Mixed Economic Data and A Cautious Fed
- This week’s FOMC meeting statement dropped the word patient but the tone remained very dovish.
- Industrial production activity remained modest in February after posting a decline in January.
- Data on February housing starts showed a sharp decline in new construction activity; however, permitting data looked more promising for future activity.
- February’s leading economic index posted another slight rise suggesting that while growth is likely to moderate in the first quarter, overall economic momentum should be maintained.
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Tags: economy