After a strong uptick in February, the Chicago Fed National Activity Index took a bit of a breather in March 2018. This indicator, which looks at 85 components, decelerated to +0.10 versus +0.98. Adding to the tepid tone of the release, the three-month moving average slowed to +0.27 from +0.31 a month earlier.
Retail sales were strong in March according to the Census Bureau. This is good for an economy like ours which thrives on consumption. Sales for retail and food services increased 0.6 percent to end the first quarter of 2018. This uptick follows a disappointing February which experienced a declined of 0.1 percent.
Prices fell for consumers during March 2018 according to the Bureau of Labor Statistics’ Consumer Price Index. Versus a month earlier, this popular measure of inflation fell 0.1 percent after rising 0.2 percent in February. Despite the monthly decline, the year-over-year statistic increased to 2.4 percent from 2.2 percent.
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