The pace of U.S. economic growth accelerated in February as the CFNAI surged by 0.88, up from a +0.02 rise in January. On a three month moving average, (3MMA) basis the CFNAI was higher by +0.37. This was the sixth consecutive month of positive readings.

The Consumer confidence index rolled-back 2.3 points in March according to the Conference Board. The index now stands at 127.7. Despite the decline, the index remains at elevated levels with a positive trend line.

Data from the Bureau of Economic Analysis (BEA), shows that total light (cars and light truck/SUVs), vehicle sales in January were at a seasonally adjusted annual rate, (SAAR) of 17.505 million (M), units, down 724,000 units or 4.0% from December.

Businesses have a mountain of jobs to fill, another data point on just how strong the economy is at the present time. Job openings increased to 6.31 million, (+645,000) on the last business day of January according to the Bureau of Labor Statistics.

The economy created 313,000 jobs in February greatly exceeding analysts’ expectations. There were good gains in both construction and manufacturing. The total number of seasonally adjusted (SA), non-farm people employed in the U.S.

February seasonally adjusted, (SA) initial claims for unemployment insurance rose by 21,000 to 231,000. Despite the increase the total remains near the lowest level in nearly 50 years.