U.S. housing, factory data underscore economy's resilience
Posted: Sat Mar 18, 2017 7:57 am
Reuters - 3/16/2017 - Lucia Mutikani - U.S. homebuilding jumped in February as unseasonably warm weather boosted the construction of single-family houses to near a 9-1/2-year high, suggesting the economy remained on solid ground despite an apparent slowdown in the first quarter. The economy's fundamentals were further strengthened by other data on Thursday showing a drop in the number of Americans filing for unemployment benefits last week amid a tightening labor market. Though factory activity in the mid-Atlantic region cooled this month, manufacturers reported growth in new orders and difficulties finding qualified workers. The data came a day after the Federal Reserve raised interest rates for the third time since the 2008 financial crisis. Fed Chair Janet Yellen told reporters that the U.S. central bank was sending a message that "we have confidence in the robustness of the economy and its resilience to shocks." Read more @ http://www.reuters.com/article/us-usa-e ... SKBN16N1LG