U.S. Economic News
February 16, 2021
U.S. Economic Indicators
The Empire State Manufacturing Survey indicates that business activity expanded modestly in February as the headline index rose 8.6 points to 12.1. The new orders index increased 4.2 points to 10.8, the shipments index declined 3.3 points to 4.0, and the index for number of employees ticked up 0.9 point to 12.1. NY Fed Report
U.S. News
According to the Wall Street Journal, preliminary January spending data from Affinity Solutions show the most recent round of COVID-19 relief checks drove a jump in consumer spending among lower- and middle-income households. Of the households that received stimulus payments, 88% have already spent their $600 checks, a trend likely to drive the first monthly increase in retail sales since September. WSJ