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 >
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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 >
U.S. retail sales in February grew at the fastest rate since September
Retail sales rebounded in February, showing that the sharp drop in January was likely more noise than trend, according to data from the Commerce Department on Thursday. Once the seasonal factors in January’s data faded away, overall spending at retail stores, restaurants and online remained solid ... READ MORE >
FOMC preview: A status quo meeting
We anticipate that the Federal Open Market Committee meeting on March 19 and 20 will maintain the status quo in its policies. Our forecast implies no change in the federal funds rate, which will remain in a range between 5.25% and 5.5%. The FOMC’s median projection for interest rates in its dot ... READ MORE >
February consumer price index: Sticky yet under control
The consumer price index increased at a robust rate in February for the second month in a row though this increase was not a surprise given the recent rise in gasoline prices, and, more importantly, the noise in housing inflation data. The top-line and core CPI numbers both grew at 0.4% on the ... READ MORE >
Should the U.S. ban imports of Chinese electric vehicles?
The Biden administration recently ordered an investigation into the national security threat posed by Chinese connected-vehicle technology. The outcome, if taken to an extreme, could result in a ban on the import of Chinese vehicles into the United States. But there is much more driving the ... READ MORE >
Canada’s jobs report offers mixed messages on rates
February’s jobs report for Canada did little to sway the Bank of Canada’s likelihood to begin cutting rates in June. The data released on Friday continues to send mixed messages to those who make monetary policy, a recurring theme for the past six months as the economy hangs on but does not ... READ MORE >
5 things to know in life sciences: Week of March 4, 2024
Each week we highlight five things affecting the life sciences industry. Here's the latest. Biden administration receives counteroffers from drug companies The Biden administration has received counteroffers from drug manufacturers in Medicare price negotiations under the Inflation Reduction Act, ... READ MORE >
Bank of Canada maintains interest rate at 5%
The Bank of Canada kept its policy rate unchanged at 5% for the fifth time in a row as it continued to wait for inflation to further moderate. Canada is in the home stretch in its path to price stability. It will be a few more months before the first rate cut, which we expect to occur in June. There ... READ MORE >
Job openings inch down as economy stays on track for a soft landing
While the job openings data released on Wednesday continued to show a tight labor market in January, it remained on a downward trend toward normalization. Job openings cooled in back-to-back months to 8.86 million in January with December's figure revised down to 8.89 million from 9.03 million ... READ MORE >