NY Fed, Report: U.S. Economy in a Snapshot

“GDP growth slowed to a moderate pace in Q1. Consumption and government spending were substantial contributors to growth. Fixed investment spending was flat while inventory investment was a large drag.”

“Consumer spending moderated in March and the personal saving rate increased. Manufacturing activity has stalled after retreating at the end of last year. The housing market appears to have stabilized.”

“Payroll growth was solid in April and the unemployment rate fell from an already very low level. The rate of increase in hourly earnings, measured over the year, ticked up.”

“Core CPI inflation over the year was little changed in April. High rent inflation continued to ease, while the fall in used car prices slowed. Food inflation moderated and the energy price index was down from its year-ago level.”