U.S. Industrial Production Climbs 0.7% In February, Much More Than Expected

RTTNews | 38 days ago
U.S. Industrial Production Climbs 0.7% In February, Much More Than Expected

(RTTNews) - The Federal Reserve released a report on Tuesday showing industrial production in the U.S. increased by much more than expected in the month of January.

The report said industrial production climbed by 0.7 percent in February after climbing by a downwardly revised 0.3 percent in January.

Economists had expected industrial production to rise by 0.2 percent compared to the 0.5 percent growth originally reported for the previous month.

The bigger than expected increase by industrial production partly reflected a substantial rebound by mining output, which surged by 2.8 percent in February after plunging by 3.2 percent in January.

Manufacturing output also climbed by 0.9 percent in February after inching up by 0.1 percent in January, led by a 8.5 percent spike in the production of motor vehicles and parts.

Meanwhile, the report said utilities output tumbled by 2.5 percent in February after soaring by 6.1 percent in the previous month.

The report also said capacity utilization in the industrial sector rose to 78.2 percent in February from a downwardly revised 77.7 percent in January.

Economists had expected capacity utilization to come in unchanged compared to the 77.8 percent originally reported for the previous month.

Capacity utilization in the mining and manufacturing sectors increased to 90.3 percent and 77.0 percent, respectively, while capacity utilization in the utilities sector fell to 73.9 percent.

read more
U.S. Consumer Sentiment Deteriorates Modestly Less Than Estimated In April

U.S. Consumer Sentiment Deteriorates Modestly Less Than Estimated In April

A report released by the University of Michigan on Friday showed consumer sentiment in the U.S. deteriorated modestly less than previously estimated in the month of April. The University of Michigan said its consumer sentiment index for April was upwardly revised to 52.2 from a preliminary reading of 50.8. Economists had expected the index to be unrevised.
RTTNews | 13h 12min ago
U.S. Existing Home Sales Plunge More Than Expected In March

U.S. Existing Home Sales Plunge More Than Expected In March

Reflecting affordability challenges associated with high mortgage rates, the National Association of Realtors released a report on Thursday showing a steep drop by U.S. existing home sales in the month of March. NAR said existing home sales plunged by 5.9 percent to an annual rate of 4.02 million in March after surging by 4.4 percent to a revised rate of 4.27 million in February.
RTTNews | 1 day ago
U.S. Durable Goods Orders Spike Much More Than Expected As Aircraft Demand Soars

U.S. Durable Goods Orders Spike Much More Than Expected As Aircraft Demand Soars

A report released by the Commerce Department on Thursday showed new orders for U.S. manufactured durable goods surged much more than expected in the month of March amid a spike by orders for transportation equipment. The Commerce Department said durable goods orders shot up by 9.2 percent in March after climbing by a downwardly revised 0.9 percent in February.
RTTNews | 1 day ago
U.S. Weekly Jobless Claims Inch Up To 222,000

U.S. Weekly Jobless Claims Inch Up To 222,000

The Labor Department released a report on Thursday showing first-time claims for U.S. unemployment benefits edged modestly higher in the week ended April 19th. The report said initial jobless claims crept up to 222,000, an increase of 6,000 from the previous week's revised level of 216,000.
RTTNews | 1 day ago
U.S. New Home Sales Surge Much More Than Expected In March

U.S. New Home Sales Surge Much More Than Expected In March

New home sales in the U.S. surged by much more than expected in the month of March, according to a report released by the Commerce Department on Wednesday. The Commerce Department said new home sales spiked by 7.4 percent to an annual rate of 724,000 in March after jumping by 3.1 percent to a revised rate of 674,000 in February.
RTTNews | 2 days ago
IMF Warns Of Tariff War Impact As Global Growth Projections Slashed

IMF Warns Of Tariff War Impact As Global Growth Projections Slashed

The International Monetary Fund slashed the global growth forecasts for this year and next on Tuesday, citing the potential impact of the trade tariffs imposed by U.S. President Donald Trump and cautioned against significant adverse effect on the world economy if the current trade tensions persist.
RTTNews | 3 days ago