Robert Hughes

Slowing Growth Raises Questions

Real gross domestic product grew at a 2.2 percent annualized rate in the fourth quarter, with real private domestic demand rising 2.6 percent. High levels of uncertainty surrounding economic policy and global economic conditions combined with mixed economic data raise doubts about the current expansion.

uncertainty

Consumer Confidence and Home Construction Drop

Consumer confidence fell in March but remains at a level consistent with economic expansion. Housing activity continues to weaken with no evidence to suggest significant gains in the near future.

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Single-Family Home Sales Fell in January

New single-family home sales fell 6.9 percent in January. Slowing sales and rising inventory are weighing on new construction, suggesting new-home construction is unlikely to contribute significantly to economic growth in coming quarters.

houseforsale

February Jobs Report Raises Questions

U.S. nonfarm payrolls added just 20,000 jobs in February, the smallest monthly gain since September 2017. Combined with other recent disappointing economic data, the report raises concerns about the durability of the economic expansion.

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