Category: Macro
-
ISM: US manufacturing activity expands in March
The manufacturing activity in the United States in March recorded an increase from its previous reading in February, the Institute for Supply Management (ISM) stated in a report on Monday. The manufacturing PMI was registered at 50.3% in March, coming in above market expectations. The figure marked a rise of 2.5 percentage points when compared…
-
US construction spending down 0.3% in February
Construction spending in the United States in February was estimated at a seasonally adjusted annual rate of $2,091.5 billion, marking a 0.3% decrease compared to the previous month’s revised rate, the US Census Bureau reported on Monday. On an annual basis, construction spending grew by 10.7% from the same month of 2023. Private construction spending…
-
US manufacturing PMI falls slightly in March
The manufacturing activity in the United States continued to expand in March, although at a slower pace, the S&P Global revealed in its report on Monday. The Manufacturing Purchasing Managers’ Index for the reported month came in at 51.9, above the neutral 50 mark, but below February’s digit of 52.2. The expansion rate of manufacturing…
-
US consumer confidence rises in March
The Consumer Sentiment Index in the United States rose 3.3% in March month on month to stand at 79.4, the University of Michigan revealed in its final report on Thursday. The figure jumped 28.1% on an annual level. The Current Economic Conditions Index gained 3.9% compared to the month prior and 24.4% from March 2022,…
-
US pending home sales up 1.6% in February
Pending home sales in the United States increased by 1.6% in February compared to the previous month, the National Association of Realtors (NAR) said on Thursday. The Pending Home Sales Index (PHSI) rose to 75.6, marking a 7.0% decrease from the previous year. The Northeast PHSI decreased 0.3% from last month to 63.4, and the…
-
US initial jobless claims down 2,000 to 210,000
The number of seasonally adjusted initial jobless claims in the United States tumbled by 2,000 to 210,000 in the week ending March 23, the Department of Labor revealed in its report published on Thursday. The figure came in lower than analysts predicted. The four-week moving average fell by 750 in comparison to the week before,…
-
US GDP growth revised up to 3.4% in Q4
The United States gross domestic product (GDP) grew 3.4% year over year in the fourth quarter of 2023, the Bureau of Economic Analysis announced in its third estimate report on Thursday. The reading was higher than the 3.3% registered in the first estimate and the 3.2% reported in the second. “The GDP estimate released today is based on…
-
US mortgage applications down 0.7%
Mortgage applications in the United States decreased by 0.7% on a seasonally adjusted basis for the week ending March 22, the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey showed on Wednesday. Further details from the report indicate a slight decline in the Purchasing Index, which fell from 146.0 to 145.7 points. The Mortgage Market…
-
Fed Maintains Rate Cut Projections, U.S. Stocks Hit Record Highs Amid Growth Optimism
In a significant development that has buoyed the U.S. stock market to record levels, the Federal Reserve has affirmed its stance on rate cuts for 2024, despite witnessing stronger-than-expected economic growth. This announcement comes as a relief to investors who had been adjusting their expectations for the central bank’s easing measures amidst signs of robust…
-
Federal Reserve Holds Rates Steady, Market Responds Positively Amid Future Cut Projections
In a move widely anticipated by investors, the Federal Open Market Committee (FOMC) maintained interest rates within the 5.25% to 5.50% range this Wednesday. This decision aligns with the consensus view among market participants and follows the FOMC’s “Dot-Plot” report projections, which indicate an expectation for three 25 basis-point cuts throughout the year. Shortly after…