U.S. Economic News
March 23, 2018
U.S. Economic Indicators
New orders of manufactured durable goods rose 3.1% in February after decreasing 3.5% (revised) in January, and are up 9.1% year-over-year. Excluding transportation, new orders rose 1.2% (up 8.5% Y/Y). Census Bureau Report
New home sales edged down 0.6% to a seasonally adjusted annual pace of 618,000 in February, but are 0.5% above the February 2017 rate. The median sales price rose to $326,800 and the inventory of new homes increased to 5.9 months at the current sales rate. Census Bureau Report
U.S. News
The Wall Street Journal reports that President Trump says he may veto the spending bill passed by Congress overnight, potentially leading to a government shutdown. The President says that the spending bill does not do enough for his proposed border wall and does not address the DACA program. WSJ
According to the Wall Street Journal, China has announced tariffs on $3 billion of U.S. imports just after President Trump announced a plan to raise tariffs on $60 billion of Chinese goods. The Chinese Commerce Ministry says that their actions are in response to new U.S. tariffs on steel and aluminum that took effect on Friday amid sharp declines in stock markets around the world. WSJ