US US Data this week generally surprised to the upside. The Bloomberg US economic surprise index rose to the highest level since the start of 2015. New home sales popped 16.6% in April, while pending home sales jumped 5.1%. Durable goods rose 3.4%, although most of the gain came from the volatile aircraft and defense [...]
US Economic data largely beat consensus expectations over the past week, with positive signs from the factory sector and homebuilding. The positive data stream continued with reports on housing, industrial production, and consumer prices all suggesting a constructive tone. Industrial production rose for the first time in three months on the back of solid gains [...]
US Retail sales rose a robust 1.3% in April. Spending was lifted by rebounding auto sales and higher gasoline prices, but core sales also performed well, up 0.6% on the month. First-quarter growth was likely not as bad as originally anticipated and appears to have averaged closer to 1.0% than the original 0.5% estimate. Growth [...]
US US Nonfarm payrolls increased by a lower-than-expected 160,000 jobs in April. Despite the slowdown, the labor market continues to tighten and wages have accelerated. The productivity slump that has weighed on potential growth during this cycle continued in the first quarter, with nonfarm productivity declining at a 1.0% annualised pace. Purchasing managers’ indices continued [...]
The last week of April was busy for global markets in the midst of earnings season, as investors digested two key central bank decisions alongside the last of major economic indicators for the first quarter of the year. _____________________________ US US economic growth slowed to just 0.5% in the first quarter, its weakest pace in [...]
