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 >
Tuan Nguyen
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 >
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 >
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 >
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 >
Service sector continues to grow in February
The service sector continued to grow in February for the 14th straight month, according to the Institute for Supply Management on Tuesday. While the overall service index pointed to a slightly slower February, falling to 52.6 from 53.4, the subindexes for business activity and new orders registered ... READ MORE >
Softer economic data helps ease inflation concerns
The softer data in manufacturing activities, construction spending and consumer sentiment at the beginning of the year should alleviate some of the recent concerns regarding the rebound in inflation. The manufacturing sector, as indicated by the ISM manufacturing index, has been in contraction mode for ... READ MORE >