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Mario Draghi, the European Central Bank’s (ECB) President, surprised the world yesterday.  Growth and inflation targets are not being met in the euro-zone according to the central bank’s latest forecast.  Their projections now show growth reaching just 1.1 percent this year, falling from 1.7 percent in their prior prognostication.

America’s economy continued growing in February 2019 according to two indicators from the Institute for Supply Management.  Each month they survey purchasing managers from firms representing the manufacturing and services segments of the economy.  In this latest survey, each side was well above minimum levels associated with growth. 

America’s economy continued growing in February 2019 according to two indicators from the Institute for Supply Management.  Each month they survey purchasing managers from firms representing the manufacturing and services segments of the economy.  In this latest survey, each side was well above minimum levels associated with growth. 

Echoes from the partial government shutdown persist.  Income and outlays data from the Bureau of Economic Analysis were delayed for December and incomplete for January, so they were released together in one report.  We have both income and spending to end the year, but just income data to start 2019.

America’s output in the final quarter of last year was better than many anticipated.  A consensus estimate from Bloomberg was expecting the annualized rate of output to reach 2.2 percent, and the final calculation of the Federal Reserve Bank of Atlanta’s GDPNow forecast expected just 1.8 percent.  However, the earliest estimate suggests output increased by 2.6 percent to e