Economic indicators

The last day of the month brings a host of economic indicators, which showed much good news for housing and labor, strong consumer confidence, but mostly softer manufacturing conditions.

Inflation took a step back, according to the Federal Reserve’s favorite indicator, while income edged up in March, ahead of this week’s Federal Open Market Committee meeting, suggesting the Fed will be able to remain patient on rates.

U.S. consumer sentiment fell less than initially reported in April.

Gross domestic product expanded at a 3.2% annualized rate in the January-March period, according to the Commerce Department.

Manufacturing activity grew more modestly in April, the Federal Reserve Bank of Kansas City announced on Thursday.

March durable goods orders data were well above expectations for an aircraft-led gain, with the headline number rising by 2.7%.

Jobless claims rose 37,000 to 230,000 in the week ended April 20, according to the Labor Department.

Manufacturing growth in the central Atlantic region was weaker than in March, while “service sector activity was robust in April.”

Sales of new U.S. homes unexpectedly rose in March, climbing to a 16-month high.

The region's services sector “continued to expand” at nearly the same pace as the previous month.

The pace of existing home sales fell by 4.9% to a 5.21 million annual rate in March after a surge in February.

The Chicago Fed National Activity Index for March narrowed to negative 0.15 from a downwardly revised negative 0.31 in February.

U.S. new-home construction unexpectedly fell in March, decelerating to the slowest pace since May 2017.

The value of business inventories in February was up 0.3% from January, as expected.

The composite of the Leading Economic Index was up 0.4% in March following a revised 0.1% rise in February, the Conference Board said Thursday.

Manufacturers report activity has “continued to grow” in April.

The level of initial jobless claims fell by 5,000 to 192,000 in the April 13 survey week, below the 205,000 level expected.

The value of retail sales posted a large gain in March, rising 1.6% vs the 1.0% gain expected.

The U.S. economy grew at a slight-to-moderate pace in March and early April, though a few districts “reported some strengthening,” a Federal Reserve survey showed.

February wholesale inventories increased by 0.2%, vs. a 0.3% rise expected.