Consumer Spending Rises 0.1% in February for Third Month
Personal spending barely increased in February, and the prior month’s advance was revised down as Americans saved more of their incomes.
Economy Grew 1.4% in Fourth Quarter, Supported by Consumers
The U.S. economy grew in the fourth quarter at a faster pace than previously estimated, supported by stronger household spending that is helping cushion the expansion from weakness overseas.
Jobless Claims Climbed Less Than Forecast Last Week
Filings for U.S. unemployment benefits last week rose less than economists forecast as the number of dismissals stayed consistent with a firm labor market.
Factory Production Rises in February for Second Month
Factory production rose in February for a second month, boosted by demand for business equipment and indicating U.S. manufacturing may be starting to stabilize.
Retail Sales Decline After January Revised Down
U.S. retail sales dropped in February and the prior month’s gain was revised to a decline, calling into question the narrative that bigger gains in consumer spending would propel economic growth at the start of 2016.
Jobless Claims Drop to Five-Month Low
Filings for U.S. unemployment benefits fell last week to the lowest level in five months as the number of firings remained consistent with a solid labor market.
Pending Sales of US Existing Homes Fall by Most in Two Years
Contracts to purchase previously owned homes unexpectedly dropped in January by the most in two years, representing a setback in residential real estate leading up to the spring selling season.
Orders for Capital Goods Climb by Most Since June 2014
Orders for U.S. capital goods rebounded in January by the most since June 2014, representing a pause in manufacturing’s downturn.
Sales of New Homes Declined More Than Forecast in January
Purchases of new homes dropped more than forecast in January as contract signings slumped in the western United States by the most since May 2010.
Sales of Existing US Homes Rise to Second-Highest Level Since 2007
Sales of previously owned U.S. homes unexpectedly rose in January to the second-highest level since early 2007, indicating the industry will keep prospering.