U.S. Review
A Few Hints That Weather Effects Are Fading
• Industrial production bounced back a sizable 0.6 percent in February after posting a 0.2 percent decline in January.
• Consumer prices rose a slight 0.1 percent in February, as energy prices pulled back on the month. The CPI is now up just 1.1 percent over last year’s level.
• Housing market data began to hint at some fading effects of the severe winter weather. While housing starts fell again in February, building permit activity posted a 7.7 percent increase for the month. Existing home sales declined slightly in February; however, the pullback was far from the 5.1 percent decline in sales observed in January.
Global Review
Monetary Policy Considerations in Europe
• Revised data released this week indicate that CPI inflation in the Eurozone slowed to the most tepid pace since 2009. In this week’s Global Review, we discuss what that means for ECB monetary policy.
• Additional insights into European monetary policy were revealed in this week’s release of the minutes from the Bank of England meeting, which occurred earlier this month.
• Finally, we look at a disappointing trade report in Japan and what that means for economic growth.
Read the full report: Economic Research
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