Publications

U.S. Economic Indicators

New factory orders for manufactured goods decreased 0.8% in February following a 2.7% (revised) increase in January. New orders excluding transportation ticked down 0.6%, while new orders for nondefense capital goods excluding aircraft fell 0.9%. Census Bureau Report

The ISM Services Index increased 8.4 points to an all-time high of 63.7 in March, indicating the tenth straight month of growth for the services sector. The New Orders Index increased 15.3 points to 67.2, while the Employment Index improved 4.5 points to 57.2. ISM Report

U.S. Economic Indicators

The U.S. economy gained 916,000 jobs in March, well above consensus expectations. The unemployment rate edged down by 0.2 percentage point to 6.0%, and the labor force participation rate ticked up 0.1 percentage point to 61.5%. BLS Report

U.S. News

The Wall Street Journal reports that the U.S. is predicted to be the main driver of global growth this year, which is already brightening growth forecasts for countries closely tied to the American economy but could contribute to divided global recovery. For example, Vietnam and Thailand are both expected to benefit substantially from U.S. stimulus packages, while the eurozone and lower-income economies are expected to be left out. WSJ

U.S. Economic Indicators

Initial jobless claims increased 61,000 to 719,000 last week. The four-week moving average decreased 10,500 to 719,000. DOL Report

The ISM Manufacturing Index rose 3.9 points to 64.7 in March, indicating industry expansion at a slightly faster rate than in February. The Employment Index rose 5.2 points to 59.6, while the New Orders Index rose 3.2 points to 68.0. ISM Report

Construction spending decreased 0.8% in February to an annualized rate of $1.52 trillion. Private construction declined 0.5%, while public construction fell 1.7%. Census Bureau Report

U.S. Economic Indicators

The ADP Employment Report shows that private-sector employment increased by 517,000 jobs in March, above expectations. The services sector gained 437,000 jobs, while the goods-producing sector gained 80,000 jobs. ADP Report

The National Association of Realtors Pending Home Sales Index declined 10.6% in February (down 0.5% Y/Y). Pending home sales were down year-over-year in the Northeast and Midwest and up slightly in the South and West. NAR Report

U.S. Economic Indicators

The Conference Board’s Consumer Confidence Index rose from 90.4 (revised) in February to 109.7 in March, its highest reading in a year. The increase in the index was primarily driven by improvements in consumers’ assessments of current business and labor market conditions and near-term expectations for jobs and business conditions. Conference Board Report

U.S. News

Bloomberg reports that U.S. home prices surged in January, growing by the largest amount in 15 years as a result of historically low mortgage rates, increased demand for suburban residences, and tight supply. The Case-Shiller index, which measures property values across the country, climbed 11.2% in its latest reporting, above consensus estimates. Bloomberg