The U.S. consumer price index came in above expectations for March, putting the Federal Reserve in a difficult position as it seeks to starting cutting interest rates this year. Both overall and core inflation remained unchanged at 0.4% monthly, the third consecutive month that the overall CPI ... READ MORE >
Service sector continues to normalize in March
The service sector posted slower growth in March as price growth fell to the lowest level since the start of the pandemic, according to data from the Institute for Supply Management on Wednesday. The composite index fell to 51.4 from 52.6, while the prices paid subindex dropped to 53.4 from ... READ MORE >
Job openings inch up in February
Job openings edged higher in February, suggesting that the jobs report for March will show continued strong gains when it is released on Friday. Openings rose by 8,000 to 8.756 million in September, slightly higher than forecasted, according to data from the Bureau of Labor Statistics released on ... READ MORE >
Manufacturing sector expands for the first time since September 2022
The manufacturing sector grew faster in March than expected on the heels of strong production activity and new orders, according to the Institute for Supply Management survey released on Monday. The March data, though, should not so much be seen as a sign of strength to come but rather as a catchup ... READ MORE >
Full employment, low inflation and a virtuous cycle in the American economy
Until recently, the idea that economy could simultaneously have low levels of unemployment and low inflation seemed to be a fantasy. Conventional wisdom, after all, holds that when unemployment is low, businesses need to pay higher wages to attract workers, which pushes up the cost of goods and services, ... READ MORE >
U.S. spending and inflation improve above expectations
The economy was much stronger than expected in February as data on both spending and inflation exceeded forecasts. Spending rose by 0.8% on the month, compared with the forecast of 0.5%, while the personal consumption expenditures index—an inflation measure closely watched by the Federal ... READ MORE >
U.S. economy remained resilient in first quarter amid signs of future softening
The American economy continued to show resilience in the first quarter though signs of softening in the future emerged, according to data on durable goods and consumer confidence released Tuesday. In perhaps the most significant development on inflation, housing prices, a sticking point in the ... READ MORE >
Existing home sales exceed forecasts as prices jump
Existing home sales came in much stronger than expected to post the biggest monthly increase in a year, the National Association of Realtors reported on Thursday. There were 4.38 million existing homes sold in February, up by 9.5% from a month ago. Given that February's increase was the third in nine ... READ MORE >
Housing starts and permits beat forecasts as completions reach 17-year high
Housing starts and permits rebounded sharply in February after unfavorable weather slowed projects across the country in January. Housing starts rose by 10.7% in February, while permits increased by 1.9%, according to data released by the Commerce Department on Tuesday. The increases exceeded ... READ MORE >
Industrial production rises to highest level in three months
Industrial production rebounded in February after a two-month drop likely because of unfavorable winter weather. Overall volume rose by 0.1% on the back of robust manufacturing production, which grew by 0.8% on the month, the Federal Reserve reported on Friday. The total industrial production figure ... READ MORE >