· The federal government budget ran a deficit of $208.7 billion in March, following a deficit of $215.2 billion in the previous month. The cumulative budget deficit for the first six months of fiscal year 2018 was $599.7 billion, compared with a deficit of $526.9.4 billion for the same period of the previous fiscal year.
· The import price index held steady in March, following a 0.3% increase in the previous month. The export price index increased 0.3%, following a 0.2% increase in the previous month. Import prices increased 3.6% from March 2017 to March 2018, while export prices increased 3.4%.
· The producer price index for final demand increased 0.3% in March, following an increase of 0.2% in the previous month. The core index – the producer price index for final demand less foods and energy – also increased 0.3% in March, following an increase of 0.2% in the previous month. The producer price index for final demand increased 3.0% from March 2017 to March 2018, while the core index increased 2.7%.
· The consumer price index (headline index) decreased 0.1% in March, following a 0.2% increase in the previous month. The core index increased 0.2%, the same increase as in the previous month. The consumer price index increased 2.4% for the 12-month period ending in March, while the core index rose 2.1%.
· Real average hourly earnings for all employees increased 0.4% from February to March.This result stems from a 0.3% increase in average hourly earnings combined with a 0.1% decrease in the consumer price index.
· The advance figure for initial claims for unemployment insurance decreased 9 thousand to 242 thousand in the week ending April 7. The 4-week moving average was 230 thousand, an increase of 1.75 thousand from the previous week’s average.
· The results of Freddie Mac’s Primary Mortgage Market Survey showed average mortgage rates were virtually unchanged. 30-year fixed-rate mortgage averaged 4.42% for the week ending April 12, up from last week when it averaged 4.40%. A year ago at this time, the 30-year fixed-rate mortgage averaged 4.08%. 15-year fixed-rate mortgage averaged 3.87% for the week ending April 12, the same as last week. A year ago at this time, the 15-year fixed-rate mortgage averaged 3.34%.
· Mortgage applications decreased 1.9% from a week earlier, according to data from Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending April 6th.