U.S. Review
Signals of Stronger Economic Growth Return
· Retail sales for March climbed 1.1 percent following an upwardly revised 0.7 percent reading for February, signaling that consumer spending was not as soft as first expected to start the year.
· Housing starts rose for the second consecutive month in March, posting a 2.8 percent increase. Building permits fell for the month after surging in February.
· The March industrial production report brought more promising news as output rose 0.7 percent, following a 1.2 percent rise in February.
Global Review
Relief From China and Improvements From Brazil
· China’s first-quarter GDP release gave some breathing room to markets that were expecting worse numbers than what were actually released. China’s economy slowed down but posted a decent 7.4 percent growth rate on a year-earlier basis.
· Meanwhile, the Brazilian economy surprised on the upside in January and February with the index of economic activity improving 0.2 percent in February while January’s number was revised upward to 2.35 percent from 1.26 percent.
Read the full report: Economic Research
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