GDP (4thQ2017)
- Real GDP quarter/quarter, seasonally adjusted annualized rate 2.9%. Previous was +2.5%
- GDP price index quarter/quarter, seasonally adjusted annualized rate % 2.3%. Previous was +2.3%
- Real Consumer Spending quarter/quarter, seasonally adjusted annualized rate 4.0%. Previous was +3.8%
Consumers did a lot of Christmas shopping and 4thQ was strong. If consumers did this with credit cards of savings we may see weak 1stQ2018 Consumer Spending.
MBA Mortgage Applications (week ended 3/23/2018)
- Purchase Index Week/Week +3.0%. Previous weeks were +1.0%, +3.0%, -1.0%, +6.0%, -6.0%, -6.0%, +0.0%, -3.0%, +6.0%, +3.0%, +5.0%, +1.0%, and -6.0%.
- Refinance Index Week/Week +7.0%. Previous weeks were -5.0%, -2.0%, -2.0%, -1.0%, -7.0%, -2.0%, +1.0%, -3.0%, +1.0%, +4.0%, +11.0%, -7.0%, and -3.0%.
- Composite Index Week/Week +4.8%. Previous weeks were -1.1%, +0.9%, +0.3%, +2.7%, -6.6%, -4.1%, +0.7%, -2.6%, +4.5%, +4.1%, +8.3%, and -2.8%.
Pending Home Sales (February 2018)
- Pending Home Sales Index month/month 3.1%. Previous was -5.0%
Goods Trade Deficit
- Deficit $75.4 Billion. Previous was $75.3 Billion
- Exports % change +2.2%. Previous was -2.4%
- Imports % change +1.4%. Previous was -0.2%
Trade Deficits subtract from GDP.
Retail Inventories (February 2018)
- month/month change +0.4%. Previous was +0.7%
This is a GDP component.
Wholesale Inventories (March 2018)
- month/month change +1.1%. Previous was +1.0%
Corporate Profits (4thQ2017)
- After-tax Profits year/year -6.0%. Previous was +9.8%
Initial Jobless Claims (week ended 3/24/2018)
- New Claims seasonally adjusted 215,000. Previous was 227,000
- New Claims unadjusted, totaled 192,440 a decrease of 5,611 from previous
- 4-week Moving Average 224,500. Previous was 225,000
Personal Income and Outlays (February 2018)
- Personal Income month/month +0.4%. Previous was +0.4%
- Consumer Spending month/month +0.2%. Previous was +0.2%
- PCE Price Index month/month +0.2%. Previous was +0.4%
- Core PCE price index month/month +0.2%. Previous was +0.3%
- PCE Price Index year/year +1.8%. Previous was +1.7%
- Core PCE price index year/year +1.6%. Previous was +1.5%
The Savings Rate rose from 3.2% to 3.4%.
Chicago PMI (March 2018)
- Business Barometer Index 57.4. Previous was 61.9
This is the slowest rate of growth in the past year for this index.
Consumer Sentiment (March 2018)
- Sentiment Index 101.4. Previous was 102.0
This is the University of Michigan Index.
Posted at 07:13 AM in Daily Macroeconomic Commentary | Permalink | Comments (0)
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