3/23: MetroIntelligence Economic Update by P. DUFFY

February new home sales dipped for third month but still up 0.5 percent year-on-year

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.



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.



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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