Economy in Brief

GDP growth was revised slightly higher, mostly reflecting a revised estimate of trade sector deterioration. The advance GDP estimate pegged growth at 0.2% (AR). The rate of inventory decumulation was little changed. As a percentage of [...]

Sales of new single family homes rose slightly less than expected last month. A stronger rise to 890,000 units had been expected. January sales were revised up slightly. Sales were mixed across the country’s regions; up in the South [...]

Durable goods orders rose slightly more than expected last month. January's huge increase was revised down sharply due to lowered estimates for nondefense capital goods. Excluding transportation, durable orders fell 1.3% after rising [...]

Sales of existing single family homes fell less than expected last month, down 2.8% from January's record sales pace which was revised up slightly. Home sales were down in each of the country’s four regions except the Northeast. The [...]

Oil prices have surged 23% since the lows set early in February. During the same period the market price for regular unleaded gasoline is up by more than a third. Despite these increases, oil and gasoline prices remain below the [...]

Consumer prices overall rose about as expected last month. Core inflation rose slightly more than the 0.2% Consensus expectation. The modest surprise in core inflation was due to no change in consumer goods prices versus deflation [...]

Housing starts rose unexpectedly last month versus consensus expectations for a moderate decline. January starts, perhaps boosted by unseasonably warm weather, were revised up. Starts in February were the second highest since early [...]

The US foreign trade deficit rose more than expected in January. December's deficit was revised shallower from $25.3B reported last month. The trade deficit began 1Q02 slightly deeper than the 4Q average of $27.6B The strength of the [...]