Episode 47: Some economic factors show resilience, while others indicate growing uncertainty.
- Pending home sales rose 6.1% in March, led by the South and the Midwest.
- Mortgage rates dropped to an average of 6.65%, supporting stronger home buying activity.
- Home prices climbed 3.9% year-over-year in February, with New York leading at 7.7%.
- Construction spending dipped 0.5% month-over-month but remains 3% above last year.
- Consumer confidence fell sharply in April to 86, with expectations at their lowest since 2011.
- GDP contracted 0.3% in 1st quarter, reversing the 2.4% growth in 4th quarter, amid rising imports and falling government spending.
- Personal income increased 0.5% in March, while consumer spending grew 0.7%.
- Inflation remained subdued, with core PCE up 2.6% year-over-year.
- April payrolls rose by 177,000 jobs, driven by health care, transportation and finance.
- The U.S. Unemployment rate held steady at 4.2%, while weekly jobless claims ticked down to 228,000 in early May.
- The Federal Reserve kept interest rates unchanged, signaling uncertainty ahead due to potential inflationary pressures from tariffs.
For more information on the state of the U.S. Economy, including forecasts, watch all the episodes of the Economy Express series.
