The likelihood of a 50 basis-point rate hike by the Federal Reserve in May increased on Thursday as the government reported that a key inflation gauge continued to surge in February. … READ MORE >
Robust job openings data might accelerate Fed’s rate hikes
Job openings in February came in blazing hot again at 11.3 million, which translated into 1.8 jobs available per unemployed worker, the Bureau of Labor Statistics reported on Tuesday. … READ MORE >
Chart of the day: Pending home sales drop again in February
Pending home sales in February dipped for the fourth straight month as depleted inventory and rising mortgage rates dampened sales. … READ MORE >
Durable goods orders decline amid rate hikes and geopolitical uncertainties
Durable goods orders declined for the first time in five months in February because of geopolitical uncertainties and the anticipation of the Federal Reserve’s first interest rate hike since 2018. … READ MORE >
Chart of the day: Initial jobless claims lowest since 1969
New filings for jobless benefits last week dropped to the lowest since 1969 as the tight labor market showed no sign of cooling. … READ MORE >
Chart of the day: New home sales drop amid rising rates
New home sales posted the second consecutive month of decline in February as elevated prices and rising mortgage rates deterred buyers. … READ MORE >
RSM US Supply Chain Index posted the best result in a year
As much of the world prepares for a post-COVID phase, we believe that the worst of domestic supply chain issues are in the rear-view mirror. Yet rising infections in some countries, along with geopolitical tensions, could delay a full return to normal. … READ MORE >
Home sales dip in February amid rising prices and mortgage rates
Sales of existing homes dipped 7.2% in February after recording a sharp 6.6% rise in January, the National Association of Realtors reported on Friday. … READ MORE >
Industrial production advanced, and oil and coal outputs ramped up amid rising prices
Industrial production grew at a slower rate in February as utility outputs dropped back down from an unusually cold January. Manufacturing took the driver seat on the month, despite a sharp drop in auto production. … READ MORE >
Initial jobless claims fall below pre-pandemic level while housing starts improve
New filings for jobless claims, a proxy for job layoffs, fell below the pre-pandemic level once again last week to 214,000, according to the Department of Labor. That marked a 15,000 drop from the prior week and a continuing testament to how tight the labor market has been. … READ MORE >