The seasonally adjusted Producer Price Index (PPI) for final demand fell 0.4% month-over-month in March.
News in end use
University of Michigan Releases the Preliminary Results of Its Consumer Sentiment Index for April
The University of Michigan Index of Consumer Sentiment declined to a reading of 50.8 in April, a month-over-month decline of 10.9% and down 34.2% year-over-year.
Value of Canadian Building Permits Increases 2.9% in February
The total value of building permits issued in Canada rose 2.9% to $13.1 billion in February. Residential construction intentions declined 2.9%.
US 30-Year Mortgage Rate Remains Below 7% for 12th Consecutive Week
The 30-year fixed-rate mortgage averaged 6.62%, down from last week when it averaged 6.64%, Freddie Mac reported.
Affordability Gap Between Homeownership and Renting Continues to Grow
Americans need to earn $116,633 to afford a median-price home, 81.8% more than the $64,160 needed to afford the typical apartment for rent, Redfin reported.
US Consumer Price Index Cools in March
Over the past 12 months, the all-items index rose 2.4% before seasonal adjustment.
US Weekly Initial Jobless Claims Inch Higher in the Week Ending April 5
The advance figure for seasonally adjusted initial unemployment claims was 223,000, an increase of 4,000 from the previous week’s unrevised total.
President Trump Pauses “Reciprocal” Tariffs for 90 Days, but Raises China’s Tariff to 125%
Trump announced a 90-day pause on the steep tariffs announced last week, opting instead for a lower 10% universal tariff, Fortune reported.
EU Launches First Countermeasures in Response to US Metals Tariffs
The EU will launch its first countermeasures next week in response to US tariffs, joining China and Canada in escalating the global trade conflict, Reuters reported.
Mortgage Applications Increase in the Week Ending April 4
Mortgage loan application volume increased 20.0% on a seasonally adjusted basis from one week earlier, MBA reported.