Banks and the Economy

Consumer Sentiment Held Strong in April

Consumer Sentiment increased 0.1 point in April to 97.0, according to the University of Michigan Consumer Sentiment Index. The Current Economic Conditions Index fell 0.5 point to 112.7, while the Consumer Expectations Index rose 0.5 point to 87.0. “Consumer sentiment continued to travel along the high plateau established following Trump’s election, with only minor deviations from its five month average ...

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First Quarter GDP Weak

Real GDP grew at a seasonally adjusted annual rate of 0.7% during the first quarter of 2017, according to the Bureau of Economic Analysis’s “advance” estimate, down from 2.1% in the fourth quarter. The deceleration in real GDP reflected a deceleration in personal consumption expenditures along with drawbacks in private inventory investment and in state and local government spending. These ...

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Durable Goods Orders Increased in March

New orders for manufactured durable goods increased 0.7% in March to $238.7 billion, following a 2.3% February increase, according to the U.S. Census Bureau. New orders excluding defense rose 0.1% on the month, as orders of nondefense capital goods increased 1.2% to $75.0 billion. Shipments of manufactured durable goods increased 0.2% to $239.8 billion. Inventories of manufactured durable goods rose ...

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House Committee Holds Hearing on Choice Act

The House Financial Services Committee today held a hearing on the Financial Choice Act, Committee Chairman Jeb Hensarling’s (R-Texas) sweeping, 600-page bill aimed at reforming parts of the Dodd-Frank Act’s extensive supervisory regime and providing regulatory relief for banks.

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New Home Sales Increased in March

New single-family home sales rose to a seasonally adjusted annual rate of 621,000 in March, according to the U.S. Census Bureau and the Department of Housing and Urban Development. The March level was 5.8% above the revised February rate of 587,000 and 15.6% above the March 2016 level. Sales rose in most regions, increasing 25.8% in the Northeast, 16.7% in ...

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