Succinct Summation of Week’s Events for 4.7.17

Succinct Summations for the week ending April 7th, 2017

Positives:

1. ADP employment rose came in at 263k, well above the 170 expected.
2. Jobless claims fell from 258k to 234k. The 4-week average is 250k.
3. Construction spending rose 0.8% m/o/m. Single-family home spending rose 1.2%.
4. The unemployment rate fell from 4.7% to 4.5%
5. MBA purchase applications rose 1% w/o/w.
6. ISM manufacturing rose from 57.1 to 57.2.
7. Average hourly earnings increased 0.2% February’s average hourly earnings were revised up from 0.2% to 0.3%.

Negatives:

1. Nonfarm payrolls came in at 98k, well below the 175k expected.
2. February’s Nonfarm payrolls were revised down from 235k to 219k
3. PMI manufacturing index fell from 54.2 to 53.3.
4. PMI services index also slipped from 53.8 down to 52.8.
5. ISM non-manufacturing index also slipped from 57.6 to 55.2.

Print Friendly, PDF & Email

Posted Under