samedi 18 avril 2015
US Still Waiting for First Shoots of Growth
Posted on 05:35 by nice news
Even though much of the US East has been enjoying balmy weather for at least a couple of weeks now, the economic data is still shuddering with a winter chill.
Nearly all the pieces of the first quarter economic picture are in place, yet the spring rebound in economic data policymakers and investors are hoping for has still not materialized. (The earliest Q1 GDP report is scheduled for April 29.)
The pressure on the US currency resulting from a worsening macro-economic picture culminated last week as the so-called dollar index, a measure of its performance against six major currencies, saw its longest losing streak in just about a year.
The greenback booked its worst daily run against the British pound in about a year while the Japanese yen and the euro were also able to book several consecutive daily advances.
The leveling out of the currency's appreciation since last month's 12-year highs has been what the Federal Reserve (Fed) has been looking for, according to the minutes from its most recent meeting. Also, Friday's data on core consumer inflation showed what could have been early signs of stabilization while even energy costs rose for the second month after a previous streak of seven drops.
Home improvement
Next week will bring two notable sets of March data - on housing and manufacturing.
First up are existing home sales released by the National Association of Realtors in Washington at 10:00am on Wednesday. The report, which tracks completed transactions, is expected to cross above the five million marker for the first time this year.
Sales tumbled at the beginning of the year and were slow to rebound in February as a shrinking inventory drove up prices sharply. Last week's data on new home construction showed a modest increase in construction of single-family homes, but the supply is still far short of its pre-bubble norms of about one million homes added into the market
Nearly all the pieces of the first quarter economic picture are in place, yet the spring rebound in economic data policymakers and investors are hoping for has still not materialized. (The earliest Q1 GDP report is scheduled for April 29.)
The pressure on the US currency resulting from a worsening macro-economic picture culminated last week as the so-called dollar index, a measure of its performance against six major currencies, saw its longest losing streak in just about a year.
The greenback booked its worst daily run against the British pound in about a year while the Japanese yen and the euro were also able to book several consecutive daily advances.
The leveling out of the currency's appreciation since last month's 12-year highs has been what the Federal Reserve (Fed) has been looking for, according to the minutes from its most recent meeting. Also, Friday's data on core consumer inflation showed what could have been early signs of stabilization while even energy costs rose for the second month after a previous streak of seven drops.
Home improvement
Next week will bring two notable sets of March data - on housing and manufacturing.
First up are existing home sales released by the National Association of Realtors in Washington at 10:00am on Wednesday. The report, which tracks completed transactions, is expected to cross above the five million marker for the first time this year.
Sales tumbled at the beginning of the year and were slow to rebound in February as a shrinking inventory drove up prices sharply. Last week's data on new home construction showed a modest increase in construction of single-family homes, but the supply is still far short of its pre-bubble norms of about one million homes added into the market
US Still Waiting for First Shoots of Growth
Categories: US Still Waiting for First Shoots of Growth
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