Initial unemployment claims fall to 215,000, lowest level since January 1973

In the week ending March 24, initial unemployment claims were 215,000, a decrease of 12,000 from the previous week's revised level. This is the lowest level for initial claims since January 27, 1973. The 4-week moving average was 224,500, a decrease of 500 from the previous week.

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Mortgage applications rise 4.8 percent, rates rise slightly to 4.69 percent

The Market Composite Index increased 4.8 percent on a seasonally adjusted basis from one week earlier, with purchase loans up 3.0 percent and refinance activity rising 7.0 percent. The average contract interest rate for 30-year fixed-rate mortgages increased to 4.69 percent.

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Bloomberg: Consumer comfort holding near 17-year high despite stock market volatility

U.S. consumer sentiment held near a 17-year high at 56.8 last week as households grew more upbeat about their finances despite a sell-off in equities tied to concerns about a trade war.

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February PCE price index up 0.2 percent from January and 1.8 percent year-on-year

The PCE price index, used as a favored marker of inflation by the Federal Reserve, rose 0.2 percent from January and 1.8 percent year-on-year. Excluding food and energy, the PCE price index increased 0.2 percent from January and 1.6 percent year-on-year.

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February personal income up 0.4 percent while spending rose by 0.2 percent, increasing savings rate

In February, both personal income and disposable personal income increased 0.4, personal consumption expenditures 0.2 percent rose, leading to the personal savings rate rising from 3.2 to 3.4 percent.

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March consumer sentiment rises to highest level since 2004

Consumer sentiment at month's end was marginally below the mid-month reading due to uncertainty about the impact of the proposed trade tariffs. The Sentiment Index, however, still reached the highest level since 2004, and the Current Conditions Index set a new all-time peak.

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4Q GDP growth rises to 2.9 percent in third and final estimate

In the third and final estimate, real gross domestic product (GDP) increased at an annual rate of 2.9 percent in the fourth quarter of 2017, up from 2.5 percent in the second estimate. In the third quarter, real GDP increased 3.2 percent.

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February Pending Home Sales Index rebounds 3.1 percent, but still down 4.1 percent year-on-year

The Pending Home Sales Index grew 3.1 percent to 107.5 in February from a downwardly revised 104.3 in January. Even with last month's increase in activity, however, the index is 4.1 percent below a year ago due largely to lack of inventory and affordability issues, especially for first-time buyers.

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State Street: Investor Confidence index up 4.8 points in March

The Global Investor Confidence Index increased to 111.9, up 4.8 points from February’s revised reading of 107.1. The index differs from survey-based measures in that it is based on the actual trades, as opposed to opinions, of institutional investors.

After a volatile February, institutions seemed to have re-embraced risk in March, with the ICI rising across all regions. However, increasing rhetoric over protectionist policies and fears over a potential trade war are still festering and have the potential to impact confidence.

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Consumer confidence retreats moderately in March due to business conditions

Consumer confidence declined moderately in March after reaching an 18-year high in February. Consumers’ assessment of current conditions declined slightly, with business conditions the primary reason for the moderation. Consumers’ short-term expectations also declined, including their outlook for the stock market, but overall expectations remain quite favorable.

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Case-Shiller National Index up 0.5 percent in January and 6.2 percent year-on-year

The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index reported a 6.2% annual gain in January, down from 6.3% in the previous month. After seasonal adjustment, the National Index recorded a 0.5% month-over-month increase in January.

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February durable goods orders jumped 3.1 percent, largest gain in eight months

Durable-goods orders jumped 3.1 percent in February, largely reversing a big drop at the start of the year and posting the largest gain in eight month. Even after stripping out planes and cars, orders climbed climbed a solid 1.2 percent.

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February Chicago Fed National Activity Index rose sharply from January

Led by improvements in production-related indicators, the Chicago Fed National Activity Index (CFNAI) rose to +0.88 in February from +0.02 in January. The index's three-month moving average, CFNAI-MA3, increased to +0.37 in February from +0.16 in January.

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February new home sales dip for third month

Sales of new single-family houses in February 2018 were at a seasonally adjusted annual rate of 618,000 in a preliminary estimate. This is 0.6 percent below the revised January rate of 622,000, but is still 0.5 percent above the February 2017 estimate of 615,000.

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Initial unemployment claims up 3,000 in weekly report

In the week ending March 17, initial unemployment claims were 229,000, an increase of 3,000 from the previous week's unrevised level of 226,000. The 4-week moving average was 223,750, an increase of 2,250 from the previous week's unrevised average of 221,500.

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