U.S. Economic News
March 22, 2019
U.S. Economic Indicators
Existing home sales jumped 11.8% to a seasonally adjusted annual rate of 5.51 million in February, but are 1.8% below year-ago levels. NAR notes that lower mortgage rates, more inventory, and rising consumer income and confidence drove the rebound in sales. NAR Report
The U.S. Census Bureau reports that wholesale merchant inventories rose 1.2% in January to $669.9 billion. Inventories were up 7.7% year-over-year. Census Report
U.S. News
The Financial Times reports that U.S. Secretary of Agriculture Sonny Perdue has warned that negotiations to resolve the trade conflict with China have hit a rough patch. U.S. farmers struggling under retaliatory tariffs are counting on a deal to include increased Chinese purchases of U.S. agricultural products such as soybeans, corn, and poultry, but China’s willingness to make concessions remains unclear. FT