Economy in Brief: 2017

Housing starts during February improved 3.0% to 1.288 million (AR) from 1.251 million in January, revised from 1.246 million. Expectations had been for 1.260 million starts in the Action Economics Forecast Survey. Starts of single- [...]

At today's meeting of the Federal Open Market Committee, the targeted federal-funds rate was increased to a range of 0.75% to 1.00%, from 0.50% to 0.75%. It remained the highest target range since the end of 2008, and followed two [...]

Rarely do inventory data ever tell a clearer story of an upturn in progress than they do in January 2017. The chart tells the first story. Sales are accelerating sharply. The growth in sales surges to and past the growth rate of [...]

The Composite Housing Market Index from the National Association of Home Builders-Wells Fargo jumped 9.2% to 71 during March (22.4% y/y) following two months of decline. It was the highest reading since June 2005. The NAHB figures are [...]

The Empire State Manufacturing Index of General Business Conditions for March fell to 16.4 from 18.7 in February. The Action Economics Forecast Survey expected 15.2. These data, reported by the Federal Reserve Bank of New York, [...]

The U.K. claimant count continues to drift lower from already low readings. The U.K. ILO unemployment rate has fallen to 4.7% (as of December), marking its lowest sojourn since 1975 a better than 40-year low and besting the Germans [...]

The Consumer Price Index nudged 0.1% higher during February following a 0.6% January increase. The gain outpaced expectations for m/m stability in the Action Economic Forecast Survey. Despite last month's moderation, the y/y increase [...]

Total retail sales and spending at restaurants rose 0.1% (5.7% y/y) in February following a 0.6% increase in January, which was revised up from 0.4%. The February result was in line with the 0.1% increase expected in the Action [...]