March personal income up 0.3 percent, spending up 0.4 percent and personal savings rate dipped to 3.1 percent

Both personal income and disposable income increased 0.3 percent in March, while consumption expenditures (PCE) increased 0.4 percent. The personal savings rate slipped from 3.3 to 3.1 percent.

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March inflation tracker PCE Price Index flat from February, up 2.0 percent year-on-year

The March PCE Price Index was up 0.0 percent from February and 2.0 percent year-on-year.
Stripping out food and energy, it was up 0.2 percent from February and 1.9 percent year-on-year.

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March pending home sales index up 0.4 percent from February, but down 3.0 percent year-on-year

The Pending Home Sales Index inched up 0.4 percent to 107.6 in March from a downwardly revised 107.2 in February. Even with last month's increase in activity, the index declined on an annualized basis (3.0 percent) for the third straight month.

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April consumer sentiment bounces back but concerns remain about trade tariffs

Consumer sentiment improved slightly in the 2nd half of the month, shrinking the small overall decline for April. The final April figure was nearly identical to its 2018 average (98.9)-which was higher than any other yearly average since 107.6 was recorded in 2000 (which was, in turn, the highest yearly average in more than a half century).

The spontaneous comments about the tax reform legislation had a positive balance of opinion, but the trade tariffs generated a negative balance of opinion. Aside from the offsetting impact of Trump’s tax and tariff policies, the best simple summary of the current state of consumer confidence is that the economy is "as good as it gets."

While consumers do not anticipate an economic downturn anytime soon, the long expansion has made consumers (and economists) somewhat apprehensive about future trends.

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First quarter 2018 compensation costs up 0.8 percent and 2.7 percent year-on-year

Compensation costs for civilian workers increased 0.8 percent, seasonally adjusted, for the 3-month period ending in March 2018. Wages and salaries (which make up about 70 percent of compensation costs) increased 0.9 percent, and benefits (which make up the remaining 30 percent of compensation) increased 0.7 percent.  Year-on-year, compensation costs rose by 2.7 percent, with wages up 2.7 percent and benefits rising 2.6 percent.

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First quarter 2018 GDP growth of 2.3 percent in first of three estimates

Real gross domestic product (GDP) increased at an annual rate of 2.3 percent in the first quarter of 2018 according to the "advance" estimate released by the Bureau of Economic Analysis. In the fourth quarter, real GDP increased 2.9 percent.  The "second" estimate for the first quarter, based on more complete data, will be released on May 30, 2018.

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Initial unemployment claims dip to lowest level since December 1969

In the week ending April 21, initial unemployment claims were 209,000, a decrease of 24,000 from the previous week's revised level. This is the lowest level for initial claims since December 6, 1969 when it was 202,000 but the population was 38 percent lower. The 4-week moving average was 229,250, a decrease of 2,250 from the previous week's revised average.

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Mortgage applications dip 0.2 percent, rates rise to highest level since September 2013

The Market Composite Index decreased 0.2 percent on a seasonally adjusted basis from one week earlier, with purchase loans flat and refinances down 0.3 percent. The interest rate for 30-year fixed-rate mortgages increased to its highest level since September 2013, 4.73 percent.

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Bloomberg: Consumer comfort index slips along with higher gas prices

The U.S. consumer comfort index eased last week from a 17-year high, falling from 58.1 to 57.5, as Americans felt the pinch of higher gasoline prices.

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Durable goods orders up 2.6 percent in March, largely due to aviation

Orders for long-lasting or "durable" goods jumped 2.6% in March, riding a big increase in contracts for Boeing planes.  Still, orders were flat minus transportation, and business investment fell for the third time in four months.

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1Q 2018 vacancy rates were 7.0 percent for rental housing and 1.5 percent for homeowner housing

National vacancy rates in the first quarter 2018 were 7.0 percent for rental housing (flat year-over-year) and 1.5 percent (down 0.2 percentage points year-over-year) for homeowner housing. The homeownership rate in the first quarter 2018 was 64.2 percent, up .06 percentage points from 63.6 percent a year ago.

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February FHFA House Price Index up 0.6 percent from January and 7.2 percent year-on-year

The FHFA House Price Index (HPI) reported 0.6 percent increase in U.S. house prices in February from the previous month. From February 2017 to February 2018, house prices were up 7.2 percent.

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March Investor Confidence Index rose 3.0 points from February

The Global Investor Confidence Index increased to 114.5, up 3.0 points from March's revised reading of 111.5. Investors across all regions expressed an appetite for risk, with the North American ICI increasing from 109.1 to 112.3.

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March consumer confidence rebounded moderately from February

Consumer confidence increased moderately in April after a decline in March. Consumers' assessment of current conditions improved somewhat, with consumers rating both business and labor market conditions quite favorably. Consumers' short-term expectations also improved, with the percent of consumers expecting their incomes to decline over the coming months reaching its lowest level since December 2000.

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February Case-Shiller Index up 0.4 percent from January and 6.1 percent year-on-year

The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index reported a 6.3% annual gain in February, up from 6.1% in the previous month.  Before seasonal adjustment, the National Index posted a month-over-month gain of 0.4% in February.

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