US The Bureau of Economic Analysis put out its first estimate of Q1 GDP growth. The economy reportedly expanded 1.1% annualized in the quarter, undershooting the median economist forecast calling for a +1.9% print. This gain being weaker than potential, the output gap widened from 0.9% to 1.1%. Domestic demand strengthened in the three months to [...]
USA The S&P Global Flash Composite PMI progressed 1.2 point in April to an 11-month high of 53.5, signaling a solid expansion in private sector activity. New orders piled up at the fastest pace in almost a year, while output rose for the third month running. Growth in private sector headcounts was the strongest since last [...]
USA The U.S. Consumer Price Index edged up 0.1% in March, one tick less than the median economist forecast calling for a +0.2% print and the least in eight months. Prices in the energy segment retreated 3.5% on declines for fuel oil (-4.0%), gasoline (-4.6%), and utility gas services (-7.1%). The cost of food remained unchanged [...]
USA The ISM Non-manufacturing PMI remained in expansion territory in March but lost considerable vigor (from 55.1 to 51.2). Growth in business activity decelerated (from 56.3 to 55.4) on the heels of new orders (from 62.6 to 52.2). New export orders, for their part, recorded a massive decrease, diving 18 points from their highest level in [...]
USA Nominal personal income increased 0.3% in February, a bit more than the median economist forecast calling for a 0.2% gain. Amid a labour market that remains healthy, the wage/salary component of income progressed 0.3% in the month, while income derived from government transfers progressed 0.5%. Personal current taxes, for their part, fell 0.6%. All this [...]
