Eckhoff Accounting News & Resources
March 26, 2018
TRADE WAR POSSIBILITY WEIGHS ON STOCKS
Last week, the U.S. imposed excise taxes on steel and aluminum imported from select countries and announced that up to $60 billion of Chinese imports would also soon face tariffs. These protectionist moves weakened bullish sentiment on Wall Street.
PRICE GAINS EASE
There was no half-percent spike in inflation in February. In contrast to January’s big jump, the headline Consumer Price Index rose 0.2% in the second month of 2018, with the core CPI following suit; the year-over-year CPI gain ticked slightly higher to 2.2%.
FEBRUARY SAW A HIRING SURGE
Payroll growth was truly impressive last month. According to the latest Department of Labor report, employers added 313,000 net new jobs, including 61,000 in the construction industry; economists polled by Reuters projected a total February gain of 200,000.
CB: PLENTY OF CONFIDENCE IN THE ECONOMY
The Conference Board’s monthly consumer confidence index soared to 130.8 in February – the highest reading seen since November 2000. In January, the gauge was at 124.3. (In the middle of the Great Recession, the index hovered near 25.)1
SOLID READINGS ON SOME KEY INDICATORS
Further fundamental economic data released last week looked strong.