Economy in Brief: March 2018

Japan’s CPI moved higher, rising by 0.1% in February after a 0.4% increase in January. This marks a 12-month string of monthly CPI changes without a month-to-month decline. This is the longest such string for Japan without the CPI [...]

New orders for durable goods increased 3.1% (8.9% y/y) during February following a 3.5% January decline, revised from -3.7%. Expectations had been for a 1.6% rise in the Action Economics Forecast Survey. Transportation sector orders [...]

The Federal Reserve Bank of Kansas City reported that its index of regional manufacturing sector business activity remained unchanged at 17 during March. The index was up, nevertheless, from -12 in December 2015. The ISM-Adjusted [...]

The drop off in the EMU manufacturing PMI is sharp; two full diffusion points in March. Meanwhile, the services gauge lops off more than one full point. As a result, the overall EMU private sector PMI drops by nearly two diffusion [...]

The Conference Board's Composite Index of Leading Economic Indicators increased 0.6% during February following a 0.8% January gain, revised from 1.0%. The y/y change rose to 6.5%, its strongest since July 2014. A 0.5% rise had been [...]

The Federal Housing Finance Agency's (FHFA) index of U.S. house prices rose 7.3% y/y in January, following December's 6.7% advance, revised up from 6.5%. The rate of increase has improved from 5.3% in 2014 and contrasts to the house [...]

Initial applications for jobless insurance rose to 229,000 during the week ended March 17 from an unrevised 226,000 in the prior week. Claims remain near the lowest level since December 1969. Expectations had been for 225,000 claims [...]

At today's meeting of the Federal Open Market Committee, the federal funds rate target was raised to a range of 1.50%-1.75% from 1.25%-1.50%. The financial markets had expected today's action as indicated in the Action Economics [...]