USA Demand in the manufacturing sector is also showing signs of stabilizing. Durable goods orders surprised to the upside in April, increasing 1.1% over the month. While defense orders drove much of the headline increase, nondefense capital goods orders excluding aircraft—a leading indicator for business investment spending—were solid, rising 1.4%. Nondefense capital goods shipments, which are [...]
USA Retail sales edged up 0.4% in April, half as much as expected by consensus. Sales of motor vehicles and parts rose 0.4% after falling 1.4% the previous month. Without autos, retail outlays increased 0.4% as increases for miscellaneous retailers (+2.4%), non-store retailers (+1.2%), health and personal care items (+0.9%), general merchandise (+0.9%), and building materials [...]
USA After rising 0.1% in March, the Consumer Price Index climbed a consensus-matching 0.4% in April. Prices in the energy segment were up 0.6% as an increase for gasoline (+3.0%) was only partially offset by decreases for fuel oil (-4.5%) and utility gas services (-4.9%). The cost of food, meanwhile, remained unchanged for the second month [...]
USA Nonfarm payrolls rose 253K in April, a lot more than the median economist forecast calling for a +185K print. However, this positive surprise was offset by a -143K cumulative revision to the previous months’ data. Average hourly earnings rose 4.4% YoY in April, up from 4.3% the prior month and two ticks above consensus expectations. [...]
