Economic Indicators

Jobless Claims: Steady, Still No Uptick

Thursday, 03/23/23
Jobless claims fell slightly last week, coming in below expectations for a modest increase. Claims have remained historically low and have shown no signs of edging higher...

New Home Sales: Muted But Bottoming

Thursday, 03/23/23
New home sales in February were lower than expected, and there were downward revisions to January's surprisingly strong data. Average sale prices inched higher. Overall, new...

FOMC Update

Wednesday, 03/22/23
The FOMC raised its benchmark rate by 25bp to a new range of 4.75%-5.00%, the highest since September 2007. This rate hike marks the 9th hike in a row since the Fed began hiking in May 2022. The Fed anticipates that...

Mortgage Apps: Third Week of Gains Despite Volatility

Wednesday, 03/22/23
Mortgage applications rose for the third consecutive week, despite massive interest rate volatility and banking uncertainty. The 30-year mortgage rate fell sharply, dropping to an average of...

Existing Home Sales: Strong Rebound

Tuesday, 03/21/23
Existing home sales rebounded in February after hitting decade-plus lows in January. While the rebound was statistically significant and much sharper than expected, it is still too early to...

Consumer Sentiment: Quick Drop

Friday, 03/17/23
Consumer sentiment fell sharply in the first half of March, according to the University of Michigan survey, dropping even before the news of bank failures. 85% of survey responses were...

Jobless Claims: Sharp Decline

Thursday, 03/16/23
Jobless claims fell sharply last week after jumping for the first time in five weeks. There were no major seasonal adjustments last week. Moreover, the surprising increases we saw in New York...

Philly Fed: Continued Sharp Decline

Thursday, 03/16/23
The New York Fed's Empire Manufacturing Index remained deeply in contraction territory in February as new orders continued to decline. Shipments were sharply lower, as were unfilled orders...

Mortgage Apps: Another Surprise Increase, Despite Turmoil

Wednesday, 03/15/23
Mortgage applications rose last week, despite the turmoil in the banking system. Even as the 30-year fixed-rate mortgage still averaged close to 7%, according to...

Producer Prices: Pipeline Pressures Ease

Wednesday, 03/15/23
Producer prices fell in February, with core prices flat, well below expectations. After strong gains in January, producer prices in February were led lower by...

Retail Sales: Core Sales Beat, Trends Turning Higher Again

Wednesday, 03/15/23
Retail sales fell in line with expectations in February as core sales rose, beating expectations for a modest decline. Vehicle and gasoline sales led the headline...

CPI: Stubbornly High Due to Lags

Tuesday, 03/14/23
Consumer prices rose in February, mostly as expected, as gasoline prices rose further. Core CPI was up 0.45%, stubbornly robust as Owner's Equivalent Rent (OER)...

03/08/2023 - ADP: Solid Rebound
02/01/2023 - ADP: Slower Job Gains
02/01/2023 - FOMC Update
12/14/2022 - FOMC Update
11/02/2022 - FOMC Update
09/21/2022 - FOMC Update
07/27/2022 - FOMC Update
06/15/2022 - FOMC
05/04/2022 - FOMC