In March, there was a notable increase in manufacturing output, with automotive production nearing a record high. Nonstore retail led the growth in retail sales, while there was a significant drop in housing starts during the same period.
In March, there was a notable increase in manufacturing output, with automotive production nearing a record high. Nonstore retail led the growth in retail sales, while there was a significant drop in housing starts during the same period.
Consumer inflation is sticky in March. Prices in the supply chain saw a slight increase, but at a slower pace compared to February. Additionally, there's a concern over rising diesel prices for freight transportation.
This week saw a significant increase of 303,000 payroll jobs in the U.S. for March, with job openings remaining stable at 8.8 million. Additionally, diesel prices have dropped, and the ISM manufacturing index indicates expansion.
This week's economic data has been sparse, showing minimal changes in manufacturing orders and new home sales for February. Transportation metrics like diesel prices and trucking spot rates have also remained steady.
Following a decline in January, housing starts have experienced a rebound. Concurrently, the real estate market has seen a surge in the sales of existing homes throughout February. Mortgage rates have also shifted, edging back towards the 7% mark. Additionally, diesel prices have reversed course in the latest week.
In February, key economic indicators improved after January's weather impact, but updated data revealed a larger hit than expected. February gains didn't fully offset January declines. Inflation remained a concern for both consumers and businesses, partly due to volatile fuel prices. Government pricing data for freight brokers in transportation showed continued strengthening, prompting questions about underlying causes.
The unemployment rate has increased to 3.9%, with a slight easing in mortgage rates and a continued fall in diesel prices. Additionally, rail carload volume is still below 2023 levels.
Consumer spending on goods fells in January, while retail inventories saw small gains. This week saw a decline in diesel prices and slightly stronger carload and intermodal traffic.
This week, economic data was limited, but there was a glimmer of strength in the housing market as existing home sales saw an increase. However, the recent rise in mortgage rates could potentially hinder further recovery. On the transportation front, diesel prices remained stable after a significant 21-cent spike last week.
The unusually severe winter weather in mid-January seems to have impacted key seasonally adjusted economic indicators. The Federal Reserve mentioned winter weather as a contributing factor in industrial production figures.
You ask. FTR Experts answer.
