There are more signs of a recovery in the works. Both industrial production and the Conference Board’s leading economic indicator reported positive year-over-year growth rates in March, recent data shows. The leading indicator index from the Federal Reserve strongly implies a return to pre-pandemic ... READ MORE >
coronavirus
CHART OF THE DAY: New home sales jump 20.7% in March
New home sales in the United States bounced back with a 20.7% increase in March after a surprising 18.2% decline in February, according to Commerce Department data released Friday. The robust gain, which came as sales surpassed 1 million for the second time this year, shows that February’s decline was ... READ MORE >
Inflation expectations: Have they reached a peak?
One major theme this year, as the American and global economies reopen, is the risk of rising prices. The yield on the 10-year Treasury increased from 0.91% at the start of the year to a high of 1.74% on March 31. But over the past month, that yield has moved back down and is likely to return toward 1.45% ... READ MORE >
CHART OF THE DAY: Existing home sales slump but market remains hot
Sales of existing homes decreased 3.7% in March to an annual rate of 6.01 million for the second straight monthly decline, according to data from the National Association of Realtors released Thursday. But the decline was mostly driven by the dearth of inventory in the market, which continues to be ... READ MORE >
Jobless claims: Labor market is moving in the right direction
First-time jobless claims declined to 547,000 for the week ending April 17 from 586,000 the week before and are well below the 4.2 million claims posted one year ago as the economy was shutting down, according to government data released Thursday. There were no unusual increases or decreases at the ... READ MORE >
CHART OF THE DAY: The strengthening dollar as the recovery takes hold
U.S. commercial activity is reflating back toward pre-pandemic levels. The recovery is showing up in the high frequency data and in an array of anecdotal evidence. Automobile traffic is increasing, for example, and container ships are backed up in San Pedro Bay, waiting to be unloaded at Southern ... READ MORE >
Bank of Canada policy decision: Tapering bond purchases by $3 billion a week
An improved economic outlook and growing confidence among central bankers have created the conditions in which the Bank of Canada is now comfortable paring back the pace of bond purchases by $3 billion per week. The central bank’s announcement on Wednesday represents a slowing in the pace of ... READ MORE >
House of the rising costs: Construction materials surge amid higher demand, supply constraints
Construction material costs have been rising since last June, and the increase is having a big effect on the residential construction industry. Everything from lumber to asphalt to cement to insulation has soared in price as the home building industry has heated up. Part of the reason, in addition ... READ MORE >
CHART OF THE DAY: A resurgent pandemic in Canada
Canada reached a grim milestone in early April, passing one million cumulative cases of COVID-19 infections. More than 8,760 new cases are being reported each day as this latest surge of infections closes in on the levels of the post-holiday second wave. If the current breakout is not quickly ... READ MORE >
CHART OF THE DAY: Southern California seaports processing record number of imports
The Los Angeles and Long Beach seaports are processing an extraordinary number of import containers. Although the three months after the holidays are generally the quietest of the year, this first quarter broke records and that activity points to the tip of the global economic recovery. The number of ... READ MORE >