Tag Archives: budget deficit
Housing Starts Rise in February; Permits Jump
Housing starts rose to 917,000 in February, slightly above the 910,000 pace of January. Single family housing starts rose to a 618,000 unit pace, up slightly from the 615,000 pace of January. Multi-family starts averaged a 285,000 unit pace, which is up slightly from January, but off significantly from the robust 300,000 plus pace we [...]
Industrial Production Higher on Utilities and Durables
The index of industrial production jumped 0.7% in February as more seasonal weather returned, prompting many consumers to raise thermostats and businesses to increase production of everything from vehicles to appliances, electronics, furniture and carpeting. Moreover, manufacturing gains for the previous two months were revised up. The pickup in production in consumer durables reflects several [...]
Consumer Prices Temporarily Surge on Gas Prices
The Consumer Price Index (CPI) jumped 0.7% in February; almost three quarters of that gain can be attributed to a 9.1% surge in gasoline prices, which has since been reversed. We also saw increases in other energy measures that pushed up consumer prices during the month. Increases in food prices were much more benign;
Real GDP Revised Down
Real GDP was revised down from an initial read of 2.2% to 1.9% in the first quarter of 2012. The biggest downside revisions occurred in the public sector, as what were initially reported as gains in the state and local sectors are now reported as losses. This throws some cold water on the view that [...]
Fed Upgraded Forecast in March but Still Divided on Outlook
The minutes of the Federal Open Market Committee (FOMC) meeting on March 13 show that the Federal Reserve upgraded its forecast, perhaps slightly more than many feel was implied by the Fed’s statement released that day. The majority of the FOMC and meeting participants (who include regional Fed Presidents who rotate voting privileges on the [...]
Bloomberg asks Diane Swonk to explain Fed concern over unemployment
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