Monthly Archives: March 2017

Comerica Economic Weekly

U.S. economic data showed mixed trends in housing and ongoing improvement in the manufacturing sector. The biggest economic news came from financial markets with some profit taking in stocks on Tuesday and from Washington where political power struggles are challenging … Continue reading

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February New and Existing Home Sales, March UI Claims

New Home Sales Strong in February New Home Sales increased by 6.1 percent to a 592,000 unit annual rate. Existing Home Sales fell by 3.7 percent in February to a 5,480,000 unit annual rate. Initial Claims for Unemployment Insurance gained … Continue reading

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From the Desk of Robert Dye

Along with the highly anticipated monetary policy statement of March 15, when the Federal Reserve announced that they were increasing interest rates for the third time in this tightening cycle, the Federal Open Market Committee also issued an updated “dot … Continue reading

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Comerica Economic Weekly

It was a busy week. A plethora of U.S. economic data was released. The Federal Reserve increased the fed funds rate and other central banks made policy announcements. Politics happened on both sides of the Atlantic. Even with all that, … Continue reading

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Feb. Residential Construction, March UI Claims and Philly Fed, Jan. JOLTS

Grab Bag of Data Consistent with Ongoing Economic Momentum Housing Starts increased in February by 3.0 percent to a 1,288,000 unit annual rate. Permits for new residential construction decreased by 6.2 percent to a 1,213,000 unit pace in February. Initial … Continue reading

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Federal Reserve Monetary Policy

Fed Raises Short-Term Interest Rates 25 Basis Points As Expected The Federal Reserve raised the target range of the fed funds rate by 25 basis points. The new Dot Plot remains consistent with three 25 basis point rate hikes in … Continue reading

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Feb. Consumer Prices, Retail Sales, Jan. Biz. Inventories, March NAHB and NY Fed

Nothing in Today’s Data Stops the Fed from Announcing a Rate Hike This Afternoon The February Consumer Price Index increased by 0.1 percent. Core CPI increased by 0.2 percent, and was up 2.2 percent over the previous 12 months. Retail … Continue reading

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February PPI, Small Business Confidence

Data Consistent with Fed Rate Hike Expectations for Tomorrow The Producer Price Index for Final Demand increased by 0.3 percent in February. Core Producer Prices also increased by 0.3 percent. The NFIB’s Small Business Optimism Index sustained its recent surge, … Continue reading

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Fiscal Policy Uncertainty, Offsets, Scoring and Monetary Policy Inflections

Tax reform, trade policy, defense spending, deregulation, healthcare reform and infrastructure spending are all potential positives for the U.S. economy in 2017 and 2018. Until the Trump Administration unveils its plans through this spring and summer, and proves its ability … Continue reading

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Comerica Economic Weekly

A March 15 fed funds rate hike cleared the last hurdle this morning upon the release of a solid February employment report. The official count of payroll jobs for February showed a net gain of 235,000, consistent with a variety … Continue reading

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