Succinct Summations for the week ending March 4th 2016
- Nonfarm payrolls came in at 242k, well above the 190 expected. Prior two month’s revised upwards as well.
- ADP private payrolls came in at 214k, up from the 205k previously and above the 185k expected.
- Construction spending rose 1.5% m/o/m.
- ISM Non-manufacturing came in at 53.4, slightly better than expected.
- Factory orders rose 1.6% m/o/m.
- Unemployment held steady at 4.9%.
- Initial jobless claims came in at 278k, the 4-week average rose to 270.25k.
- PMI services index fell to 49.7, the weakest reading since the government shutdown in 2013.
- Pending home sales fell 2.5% m/o/m.
- Average hourly earnings fell 0.1%, down from the 0.5% previous gain.
- Markit Economics’ manufacturing index fell to 51.3, its third lowest reading since October 2012.
- ISM Manufacturing index rose to 49.5, but has remained below breakeven levels since September.
- The MBA mortgage composite index fell 4.8% w/o/w.
- Nonfarm productivity fell 2.2% q/o/q.
- Chicago PMI came in at 47.6, the third month in a row below consensus.
- Bloomberg’s consumer comfort came in at 43.6, the first reading below 44 all year.