Download the April 2021 Snapshot
- February data were broadly weak, dragged down by unusually adverse weather.
Payroll data suggest a strong rebound in March.
- Consumer spending fell in February, after rising substantially in January.
The weakness was from lower spending on goods.
- Spending on business equipment dropped in February.
Shipments of nondefense capital goods ex-aircraft fell 1%.
They were still up 8% over the year.
- Housing activity faltered in February.
House starts fell 10%, with multi-family starts down more than single-family starts.
- Labor market conditions improved in March,
with payroll employment rising substantially and the unemployment rate falling.
- Core PCE inflation over the year retreated in February,
back to near where it was running in the second half of 2020.
- The yield on ten-year Treasury securities moved higher, and is now back to near where it was at the beginning of 2020. Equity prices reached an all-time high. The market-implied path of the federal funds rate increased for maturities greater than one year. The dollar appreciated against the euro and the yen.
We post accompanying data for the charts, if permitted, with the intent to expand the series to the fullest extent possible.
Read more about the launch of the series: Just Released: U.S. Economy in a Snapshot
, Liberty Street Economics
, June 2015
2021 Release Dates