New filings for jobless claims last week fell slightly, to 184,000, holding steady below the average pre-pandemic level for the 12th straight week. … READ MORE >
Chart of the day: U.S. home prices hit record in March
Sales of existing homes fell by 2.7% to 5.77 million in March, the lowest since July 2020, as rising mortgage rates dampened demand. … READ MORE >
Housing starts moderated in March amid rising rates
Housing starts and permits inched up in March due to a boost from multifamily homes, beating market forecasts of significant declines in both series.
New residential starts rose 0.3% on the month to 1.79 million annualized rate, the highest since 2006. Building permits, an indicator of future starts, climbed 0.4% to an annualized 1.87 million. … READ MORE >
Chart of the day: Industrial production hits record in March
Domestic industrial production increased by 0.9% in March, beating market forecasts despite global supply chain disruptions of key materials. … READ MORE >
Initial jobless claims remain low as consumer sentiment rises unexpectedly
Initial jobless claims last week rose to 185,000 yet remained significantly below the pre-pandemic level. At the same time, consumer confidence increased unexpectedly, according to the University of Michigan survey. … READ MORE >
Retail sales slow in March as inflation takes a toll
March’s retail sales added substantial downside risks to our forecast for economic growth that will most likely dip below 1% in the first quarter. … READ MORE >
Domestic producer prices rose 11.2% in March amid Ukraine war
The producer price index for final goods and services rose 11.2% from a year ago, posting double digit growth for the third month in row. For March alone, the prices for the same products shot up by 1.4%, from 0.9% in February, the Bureau of Labor Statistics reported on Wednesday. … READ MORE >
Chart of the day: Initial jobless claims lowest in 54 years
New filings for jobless benefits fell to 166,000 last week—the fewest since 1968—as millions of job vacancies remained unfilled, the Labor Department reported on Thursday. … READ MORE >
Chart of the day: Manufacturing slows amid surge in raw material prices
The headline manufacturing purchasing managers’ index was down to 57.1% from 58.6% in February, the lowest since September 2020. … READ MORE >
Chart of the day: Initial jobless claims remain low
New claims for jobless benefits increased by 14,000 last week to 202,000, continuing to stay below the pre-pandemic level in 2019. The increase was likely temporary as the labor market remained tight. … READ MORE >