The Federal Reserve Bank of New York works to promote sound and well-functioning financial systems and markets through its provision of industry and payment services, advancement of infrastructure reform in key markets and training and educational support
to international institutions.
The New York Fed engages with individuals, households and businesses in the Second District and maintains an active dialogue in the region. The Bank gathers and shares regional economic intelligence to inform our community and policy makers, and promotes
sound financial and economic decisions through community development and education programs.
U.S. Economy in a Snapshot is a monthly presentation designed to give you a quick and accessible look at developments in the economy.
Overview of the April 2019 Snapshot
Real consumer spending remained soft in January. Real durable goods expenditures declined for the second straight month while real services expenditures rose. Retail sales were weak in February; consumer confidence measures remain high but seem to have lost momentum.
Growth in business equipment spending firmed in 2018Q4 but its overall pace in 2018 slowed relative to 2017.
New orders of capital goods (excluding aircraft) slowed in February and remained below shipments, suggesting that the near-term momentum remains rather soft.
Housing activity indicators suggest more stable conditions. Home sales rebounded in February, likely fueled by a substantial decline in mortgage rates in recent months. A strong labor market continues to have the potential to provide support to the housing sector.
Payroll growth was solid in March. The unemployment rate remained unchanged, while the employment-to-population ratio and the labor force participation rate both edged down. Various measures of labor compensation continue to indicate a gradual firming of wage growth.
Core CPI inflation was somewhat soft in March but remains roughly consistent with the FOMC's longer-run objective.
U.S. equity indices rose over the past month, while implied volatility generally remained low. The nominal 10-year Treasury yield decreased. There were declines in other longer-term sovereign yields. The broad trade-weighted dollar index was little changed. Oil prices increased further over the month.
U.S. Economy in a Snapshot, produced by the Research Function of the New York Fed, is designed to provide a tight yet comprehensive overview of current economic and financial developments. This monthly packet presents charts and commentary on a broad range of topics that include labor and financial markets, the behavior of consumers and firms, and the global economy. What’s more, Snapshot aims to cover special topics such as movements in commodity prices, developments in the Second District, or findings from the New York Fed Survey of Consumer Expectations.