Succinct Summations for the week ending August 4th, 2017
Positives:
1. Euro zone unemployment fell to 9.1% in June, its lowest level since February 2009
2. Non-farm payrolls came in at 209k, well above the 178 expected. Unemployment fell from 4.4% to 4.3%. Average hourly earnings rose 0.3%.
3. ADP employment rose from 158k to 178k, above the 173k expected.
4. Pending home sales increased 1.5% in June, above the 0.9% expected rise.
5. Chicago PMI slowed from an unsustainable 65.7 to a still strong 58.9.
6. ISM manufacturing came in at 56.3, slightly above expectations.
7. PMI manufacturing index rose from 52 to 53.3. Services rose from 54.2 to 54.7.
8. Jobless claims fell from 244k to 240k.
Negatives:
1. Personal income came in flat m/o/m. Consumer spending rose 0.1%.
2. Construction spending declined 1.3% m/o/m.
3. Factory orders rose 3% m/o/m, but excluding transportation equipment, orders actually fell 0.2
4. ISM non-manufacturing fell from 57.4 to 53.9.
Thanks Mike!
