February 2018 Existing Home Sales
Submitted by Atlas Indicators Investment Advisors on March 31st, 2018
Did you notice prices rising in February? You’re not the only one. According to the Bureau of Labor Statistics, the Consumer Price Index (CPI) rose 0.2 percent in February 2018. This uptick followed January’s jump of 0.5 percent. Its year-over-year trend accelerated too, reaching 2.2 percent versus 2.1 percent to start this year.
America’s output of physically made goods improved in February 2018 according to the Federal Reserve. Rising 1.1 percent, Industrial Production made up for all the downwardly revised decline of 0.3 percent (originally minus 0.1 percent) in January. Year-over-year, this cyclically sensitive indicator increased 4.4 percent.
America’s output of physically made goods improved in February 2018 according to the Federal Reserve. Rising 1.1 percent, Industrial Production made up for all the downwardly revised decline of 0.3 percent (originally minus 0.1 percent) in January. Year-over-year, this cyclically sensitive indicator increased 4.4 percent.
Prices paid by producers and wholesalers rose in February according to the Bureau of Labor Statistics’ Producer Price Index (PPI). This cost proxy increased 0.2 percent, slowing from 0.4 percent in January. Despite the monthly deceleration, the annual trend level increased marginally to 2.8 percent from 2.7 percent. Excluding food and energy (since they are volatile) lea
America’s central bank increased the overnight interest rate (called the Fed Funds Rate) on Wednesday. This is the Federal Reserve’s sixth hike since they began raising rates in December 2015. At the time, Janet Yellen led the institution; four subsequent increases happened under her watch. On February 5, 2018, Jerome Powell assumed the office, and he now has his f
Small business confidence is high. The Small Business Optimism Index improved during February 2018 from an already lofty tally in January. Reaching 107.6, this is the second highest level in the indicator’s 45-year history. Only the 1983 record high of 108.0 has been better.
As the earliest data on 2018 trade trickles in, Atlas is reminded of deceleration. According to the Bureau of Economic Analysis (BEA), America’s trade deficit worsened to $56.6 billion in January 2018. Adding to the dour tone of this release, December’s shortfall intensified to $53.9 billion (originally $53.1 billion). Since net exports are added to the other compo
Economic output continued expanding in February 2018 according to the latest releases from the Institute for Supply Management (ISM). Both of their surveys recorded tallies well above 50.0, a level indicative of no discernable change. Manufacturing’s reading was 60.8, accelerating from 59.1. Meanwhile, non-manufacturing decelerated a smidgen to 59.5 from 59.9 in January.