U.S. Economic News
February 27, 2018
U.S. Economic Indicators
The Conference Board’s Consumer Confidence Index rose from 124.3 (revised) in January to 130.8 in February, its highest level since 2000. The increase was driven by improvements in both the Expectations Index and the Present Situation Index. Conference Board Report
The U.S. Census Bureau Advance Economic Indicators Report shows that the goods deficit widened to $74.4 billion in January from $72.3 billion in December. Meanwhile, wholesale inventories rose 0.7% and retail inventories jumped 0.8%. Census Bureau Report
New orders of manufactured durable goods fell 3.7% in January after increasing 2.6% (revised) in December, but are up 8.9% year-over-year. Excluding transportation, new orders dropped 0.3% (up 9.1% Y/Y). Census Bureau Report
U.S. News
The Wall Street Journal reports that despite consecutive, sharp, monthly declines in new home sales many economists do not see the U.S. housing market as entering a downturn. Economists say that if the downturn in January was primarily due to economic factors, the decline would have been more broad-based, as opposed to a concentration of losses in the Northeast and the South where winter weather likely kept some prospective buyers out of the market. WSJ