U.S. Economic News
February 27, 2019
U.S. Economic Indicators
The U.S. Census Bureau Advance Economic Indicators Report shows that the goods deficit widened to $79.5 billion in December from $70.5 billion in November. Meanwhile, wholesale inventories rose 1.1% and retail inventories increased 0.9%. Census Bureau Report
New factory orders for manufactured goods increased 0.1% in December following a 0.5% (revised) drop in November, and are up 7.4% year to date. New orders excluding transportation fell 0.6% while new orders for nondefense capital goods excluding aircraft fell 1.0%. Census Bureau Report
The National Association of Realtors pending home sales increased 4.6% in January (down 2.3% Y/Y). NAR points to a recent change in Federal Reserve Policy and the reopening of the government as benefiting the market. NAR Report
U.S. News
Nick Timiraos of the Wall Street Journal reports that Federal Reserve Chairman Jerome Powell said the central bank is in no rush to move interest rates while officials assess how slower global growth and financial market turbulence affect the economy. Despite the strong job market and muted inflation pressures, Powell pointed to slowing Chinese and European growth, the U.S.-China trade war, and Brexit as headwinds to consider coming from abroad. WSJ