Construction of new homes increases
WASHINGTON >> Builders ramped up construction of new homes in April, suggesting that the market remains solid despite sluggish economic growth at the beginning of the year.
Housing starts climbed 6.6 percent to a seasonally adjusted annual rate of 1.17 million units, the Commerce Department said Tuesday. The increase makes up for much of March’s 9.4 percent drop in starts, a decline that partially reflected the volatile monthly swings in residential construction.
April’s rise in consumer prices tied to gas
WASHINGTON >> U.S. consumer prices jumped in April by the largest amount in more than three years, reflecting a surge in the price of gasoline and other energy products. But outside of volatile food and energy, core inflation posted another modest gain.
The Labor Department said Tuesday that overall consumer prices rose 0.4 percent in April after a 0.1 percent increase in March. Core inflation was up 0.2 percent compared with a 0.1 percent March gain.
Industrial production rose last month
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WASHINGTON >> U.S. industrial production in April posted the biggest increase since November 2014 as utility output surged, the Federal Reserve said Tuesday.
Industrial output — which includes factories, mines and utilities — rose 0.7 percent from March. It had dropped the previous two months. Fueling the improvement was utility production, which surged 5.8 percent in April. It was the biggest jump since February 2007. Demand for electricity and natural gas returned to more normal levels after unusually mild March weather.
Nordstrom chief jumps ship for Target
NEW YORK >> Target has poached a Nordstrom executive for its new chief merchandising officer, a crucial position and the one who determines what appears on store shelves.
Mark Tritton was president of Nordstrom Product Group, where he oversaw the merchandising, design, manufacturing, marketing and distribution of more than 50 private-label brands across Nordstrom’s full- and off-price portfolio.
In his new role, Tritton will oversee buying, product design and development, sourcing, visual merchandising strategy and merchandising transformation for the retailer.
On the Move
>> Brenda Jensen has been appointed dean of Hawaii Pacific University’s College of Natural and Computational Sciences as of June 16. Jensen first joined HPU in 2005 as an assistant professor of biology and progressed to associate professor. In 2008 she was appointed associated dean of the College of Natural Sciences.
>> Kaiser Perma-nente has hired Allan Gold as director of actuarial services in the Hawaii region. He has nearly 40 years in actuarial services, including serving as senior actuary for Aetna’s public sector and labor segment and forecasting market trends. Gold also worked at Aetna Life & Casualty in Hartford, Conn., where he served for 27 years in a wide range of positions.