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.

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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 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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