U.S. Economic News
March 1, 2018
U.S. Economic Indicators
Real disposable personal income rose 0.6% in January while real personal consumption expenditures (PCE) edged down 0.1%. The PCE price index rose 0.4% (up 1.7% Y/Y) and the core price index rose 0.3% (up 1.5% Y/Y). BEA Report
Initial jobless claims fell 10,000 to 210,000 last week. The four-week moving average decreased 5,000 to 220,500. DOL Report
The ISM Manufacturing Index rose 1.7 percentage points to 60.8 in February. The Employment Index jumped 5.5 percentage points to 59.7 while the New Orders Index decreased 1.2 percentage points to 64.2. ISM Report
Construction spending was unchanged in January at an annualized rate of $1.26 trillion. Public construction rose 1.8% while private construction edged down 0.5%. Census Report
U.S. News
The Wall Street Journal reports that the Trump administration has summoned steel and aluminum executives to the White House on short notice, telling them an announcement could be made regarding potential tariffs on imported metals. Some administration officials hope that the President will announce substantial tariffs on steel and aluminum, though others have cautioned that the policies are not fully developed and the meeting today may be a discussion of possible alternatives. WSJ