U.S. Economic News

U.S. Economic News

April 9, 2021

U.S. Economic Indicators

The headline Producer Price Index (“PPI”) for final demand rose 1.0% in March and is up 4.2% year-over-year, the largest yearly increase since September 2011. The core – which removes the volatile prices of food, energy, and trade services – rose 0.6% in March and is up 3.1% year-over-year. BLS Report

U.S. News

The New York Times reports that Federal Reserve chair Jerome Powell emphasized that controlling the coronavirus pandemic in all nations, not just advanced economies, will be key to overall recovery and the global economic outlook. At an International Monetary Fund panel yesterday, Powell also highlighted the importance of investing in projects that will improve the inclusiveness and long-term potential of the U.S. economy. NYT

U.S. Economic News

U.S. Economic News

April 8, 2021

U.S. Economic Indicators

Initial jobless claims increased 16,000 to 744,000 last week. The four-week moving average increased 2,500 to 723,750. DOL Report

U.S. News

The New York Times reports that office vacancies across the country have climbed to their highest levels in decades as more businesses embrace remote work and rent less space. In city centers, the vacancy rate for office buildings climbed to 16.4 percent over the past year, but that could change in the long-term depending on whether companies shift to more permanent remote or hybrid work or back to more traditional in-person work. NYT

U.S. Economic News

U.S. Economic News

April 7, 2021

U.S. Economic Indicators

The U.S. trade deficit widened from $67.8 billion (revised) in January to $71.1 billion in February. The goods deficit increased by $2.8 billion, while the services surplus decreased by $0.5 billion. Census Bureau Report

U.S. News

Bloomberg reports that a recent poll from the New York Fed found that consumers are expected to spend less than 25% of their latest stimulus checks, instead using the majority of funds to pay down debt and add to savings. In comparison, consumers spent 29% and 26% of their first and second stimulus checks, respectively, highlighting the divergent needs of households over the course of the pandemic. Bloomberg

U.S. Economic News

U.S. Economic News

April 6, 2021

U.S. Economic Indicators

The Job Openings and Labor Turnover Survey (“JOLTS”) indicated that the number of job openings edged up to 7.4 million in February. The number of hires ticked up to 5.7 million, while the layoffs and discharges rate was little changed at 1.2%. BLS Report

U.S. News

The Wall Street Journal reports that the International Monetary Fund now expects the world economy to grow 6% in 2021. The upward revision from its January forecast of 5.5% is largely due to aggressive stimulus spending and accelerated vaccine rollout in the U.S. and other advanced economies. WSJ

U.S. Economic News

U.S. Economic News

April 5, 2021

U.S. Economic Indicators

New factory orders for manufactured goods decreased 0.8% in February following a 2.7% (revised) increase in January. New orders excluding transportation ticked down 0.6%, while new orders for nondefense capital goods excluding aircraft fell 0.9%. Census Bureau Report

The ISM Services Index increased 8.4 points to an all-time high of 63.7 in March, indicating the tenth straight month of growth for the services sector. The New Orders Index increased 15.3 points to 67.2, while the Employment Index improved 4.5 points to 57.2. ISM Report