Exports rose 2.0% and imports rose 1.6% in February, leaving a $-62.9 billion deficit for the month’s international trade in goods.
February personal income rose 0.2%, while consumer spending rose 0.1%. The PCE price index fell -0.2%, but the core rate rose 0.1%. On a year-over-year basis, the PCE Price Index is up 1.0% overall, and 1.7% at the core.
The Pending Home Sales Index rose 3.5% to 109.1 in February.
The Dallas Fed Manufacturing Survey rose strongly from -31.8, but remains deeply negative at -13.6 in March. The production index rose from -8.5 to 3.3.
Durable goods orders plunged -2.8% in February, with non-transportation orders down -1.0% and core capital goods down -1.8%. Even worse, on a year-over-year basis, while orders are up 1.8% overall, ex-transportation orders are down -0.5%, and core capital goods are down -0.1%. So, basically jumbo jet orders are the only things that are up.
The Kansas City Fed’s Manufacturing index rose from -12 to a still-negative -6.
The PMI Services Flash rose from 49.8 to 51.0 in March.
Initial weekly jobless claims were unchanged at 265,000. The 4-week average fell 8,250 to 259,750. Continuing claims fell 239,000 to 2.179 million.
The Bloomberg Consumer Comfort Index fell 0.7 points to 43.6 in the latest week.
The Fed’s balance sheet rose $6.5 billion last week, with total assets of $4.493 trillion. Reserve bank credit rose $4.5 billion.
The Fed reports that M2 money supply rose by $22.8 billion in the latest week.
The PMI Manufacturing Index Flash for March rose 0.4 points to 51.4.
The Richmond Fed Manufacturing Index for March rose strongly from -4 to 22.
The FHFA House Price Index rose 0.5% in January. On a year-over-year basis, the index is up 6.0%.
Redbook reports that last week’s retail sales rose slightly to 0.8% on a year-ago basis, from the previous week’s poor 0.6%.
Existing home sales fell -7.1% in February, to a 5.080 million annual rate. On a year-over-year basis, sales are up 2.2%.
The Chicago Fed National Activity Index slipped into negative territory in March, dropping from 0.28 to a worse-than-expected -0.29.
The Consumer Price Index fell -0.2%, but prices less food and energy rose 0.3%. On a year-over-year basis, prices are up 1.0% overall, and 2.3% at the core.
Housing starts rose 5.2% to a 1.178 million annualized rate while permits dropped -3.1% to 1.167 million.
Industrial production fell -0.5% in February, as capacity utilization in the nation’s factories fell -4.0% to 76.7%.
The Federal Open Markets Committee left short-term interest rates unchanged, with a Fed Funds target rate of 0.25%-0.50%.
The Federal Open Markets Committee projected today that annual GDP growth will not exceed 2.3% for the foreseeable future.
The MBA reports that mortgage applications fell -3.3% last week, with purchases up 0.3% and refis down -6.0%.
Producer Prices for Final Demand fell -0.2% in February, were unchanged less food and energy, and up 0.1% less food, energy, and trade services. On a Year-over-year basis, prices were unchanged overall, up 1.2% less food and energy, and up 0.9% less food, energy, and trade services.
Retail sales fell -0.1% in February, both at the headline level, and less autos. Sales less autos and gas rose 0.3%.
After 7 months of contraction, the Empire State Manufacturing survey rose from -16.64 to 0.62 in March.
Business inventories rose an unwanted 0.1% in January, while a -0.4% drop in sales drove the stock to sales ratio to a hefty 1.40, the highest since May 2009.
The Housing Market Index was unchanged at 58 in March.
Foreign Demand for Long-Term U.S. Securities fell -12.0 billion in January, mainly on sales of US Treasuries.
Redbook reports that last week’s retail sales fell to 0.6% on a year-ago basis, from the previous week’s 0.7%. Sales remain weak.
Information revenue in the 4th Quarter of 2015 rose 1.8%, compared to the revised 0.7% in the 3rd Quarter.
The US Treasury reported a budget deficit of $-192.6 billion in February. The deficit is up 8.7% overall in 2016 compared to February 2015.
Initial weekly jobless claims fell 18,000 to 259,000. The 4-week average fell 2,500 to 267,500. Continuing claims fell 32,000 to 2.225 million.
The Bloomberg Consumer Comfort Index rose 0.2 points to 43.8 in the latest week.
The Fed’s balance sheet rose $2.6 billion last week, with total assets of $4.481 trillion. Reserve bank credit fell $-0.9 billion.
The Fed reports that M2 money supply rose by $14.0 billion in the latest week.