LAST WEEK

News & Commentary Weekly Highlights:

• Wall Street Journal: Economy Chugs On Despite Fears (Friday)
• Real Clear Markets: We Have a Fiscal Problem, Not a Monetary One (Friday)
• Market Watch: When It Comes to Saving Money, Millennials Are Killing It (Thursday)
• Wall Street Journal: In CBO’s Projections, a Growing Reason to Worry About the Federal Debt (Wednesday)
• Market Watch: Central Banks Will Never Admit They’ve Run Out of Ammunition (Tuesday)

 

Top Economic Indicator Highlights:

Personal Income and Outlays (February)

• Personal Income (change M/M): $23.7 billion, % Change: 0.2%
• Consumer Spending (change M/M): $11.0 billion, % Change: 0.1%
• PCE (Personal Consumption Expenditures) Price Index: 0.1%, Year-on-year: 1.0%
• Core PCE Price Index: 0.1%, Year-on-year: 1.7%
• Noteworthy: Wages and salaries decreased $9.4 billion in February, and in particular, private wages and salaries decreased $12.9 billion. Supplements to wages and salaries increased $2.4 billion.

 

JEC Releases:

• Examining Economic Performance; Is It the President, the Power of the Purse, or the Private Sector? (Thursday)

 

THIS WEEK

Upcoming Economic Reports & Releases:

Major Indicators

• Labor Market Conditions Index (10am, Monday)
• Factory Orders (10am, Monday)
• International Trade (8:30am, Tuesday)
• Job Openings and Labor Turnover Survey (10am, Tuesday)
• Institute for Supply Management Non-Manufacturing Index (10am, Tuesday)
• Consumer Credit (3pm, Thursday)
• Wholesale Trade (10am, Friday)

Chart of the Week:

 

The chart above shows the range of real median household income by state for each year from 2004 to 2014, as compared to the national median (the solid black line). Notably, the spread of real median incomes across states narrowed during the recession and immediate aftermath, and the national real median household income is still below its 2007 level. For more detailed information about how each state has fared, see the Census Bureau’s website: https://www.census.gov/hhes/www/income/data/statemedian/