U.S. Economic News

March 17, 2021

U.S. Economic Indicators

Privately-owned housing starts decreased 10.3% in February to a seasonally adjusted annual rate of 1.42 million (down 9.3% year-over-year). Housing permits dropped 10.8% to a 1.68 million annual pace (up 17.0% from last year). Census Bureau Report

U.S. News

The New York Times reports that, following a surge in retail sales in January, a sharper-than-expected drop in February revealed the extent to which consumer spending growth remains reliant on stimulus payments. Looking forward, recovery in the retail sector is expected to be bumpy and contingent on factors such as further stimulus, vaccine deployment, shifts in employment, and warmer weather. NYT