U.S. Economic News
March 28, 2018
U.S. Economic Indicators
The National Association of Realtors pending home sales index rose 3.1% in February (down 4.1% Y/Y). NAR says that the housing market is off to an uneven start in 2018, as robust demand for homes has been met with continued weakness in homes for sale. NAR Report
The U.S. Census Bureau Advance Economic Indicators Report shows that the goods deficit widened to $75.4 billion in February from $75.3 billion in January. Meanwhile, wholesale inventories rose 1.1% and retail inventories rose 0.4%. Census Bureau Report
The third estimate of Q4 GDP indicates that the U.S. economy expanded at an annualized rate of 2.9%, above the prior estimate of 2.5%. The reading reflects healthy consumer spending, business investment, residential investment, as well as strong contributions from government spending. BEA Report
U.S. News
The Wall Street Journal reports that Atlanta Fed President Raphael Bostic says that he supports plans to gradually raise interest rates but that fiscal policy may complicate the Fed’s actions. Bostic also said that the Fed may soon face a scenario in which the economy is growing faster than expected, which would likely cause the Fed to raise interest rates more quickly than expected. WSJ