In this issue of the MetroIntelligence Economic Update, I covered the following indicators:
- FOMC holds rate at .25%, observes continued moderate economic expansion
- Producer Price Index rose by 0.4% in February, up by 3.3% over previous 12 months
- Empire State Manufacturing Survey indicates high degree of optimism and increased spending
- Philadelphia Federal Reserve's Business Outlook Survey also points to continued optimism
- Initial claims for unemployment fall by 14,000 in most recent survey
- Trade deficit widens in January as imports rise faster than exports
- Overall mortgage applications fall by 2.4%, although purchase loans rise by 4.4% in latest survey
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