March proved challenging for the housing market, as sales of existing homes plummeted by 4.3%, marking the steepest drop since November 2022. … READ MORE >
Tuan Nguyen
Industrial production rebounds as housing starts plunge
Housing starts dropped by 14.7% to 1.32 million on an annualized rate, the lowest level since last August. … READ MORE >
U.S. retail sales show surprising resilience
Total retail sales jumped 0.7% on the month, while February’s number was revised up to 0.9% from 0.6%. … READ MORE >
U.S. consumer sentiment falls as inflation stays sticky
The University of Michigan’s consumer sentiment index fell to 77.9 in April from 79.4, according to data released on Friday. … READ MORE >
Hot inflation data dims prospects for a Fed rate cut in June
The year-ago consumer price index rose to 3.5% from 3.2% for overall inflation and stalled at 3.8% for the core inflation reading. … READ MORE >
Service sector continues to normalize in March
The ISM services composite index fell to 51.4 from 52.6, while the prices paid subindex dropped to 53.4 from 58.6. … READ MORE >
Job openings inch up in February
Job openings rose by 8,000 to 8.756 million in September, slightly higher than forecasted. … 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. … READ MORE >
U.S. spending and inflation improve above expectations
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 Reserve—came in at 0.3%. … READ MORE >
U.S. economy remained resilient in first quarter amid signs of future softening
The data is not likely to change the Federal Reserve’s course on monetary policy, with the central bank likely to hold rates steady at its May meeting. … READ MORE >