U.S. Economic News
March 28, 2019
U.S. Economic Indicators
Initial jobless claims fell 5,000 to 211,000 last week. The four-week moving average fell 3,250 to 217,250. DOL Report
The third estimate of Q4 GDP indicates that the U.S. economy expanded at an annualized rate of 2.2%, down from February’s initial estimate of 2.6%. The reading reflects downward revisions to personal consumption expenditures, government spending, and nonresidential fixed investment, which were partially offset by downward revision to imports. BEA Report
The National Association of Realtors pending home sales decreased 1.0% in February (down 4.9% Y/Y). NAR characterized the drop as a minor decline coming off a solid gain in the prior month. NAR Report
U.S. News
The Wall Street Journal reports that Kansas City Fed President Esther George voiced support to hold rates steady for now, suggesting the Fed should use this time to assess how last year’s four rate hikes affected the economy. She stated that job gains, wage increases, and consumer confidence are expected to support consumer spending in the near term but noted the medium term risk of slower growth abroad. WSJ