Succinct Summations of Week’s Events 3.4.16

Succinct Summations for the week ending March 4th 2016


  1. Nonfarm payrolls came in at 242k, well above the 190 expected. Prior two month’s revised upwards as well.
  2. ADP private payrolls came in at 214k, up from the 205k previously and above the 185k expected.
  3. Construction spending rose 1.5% m/o/m.
  4. ISM Non-manufacturing came in at 53.4, slightly better than expected.
  5. Factory orders rose 1.6% m/o/m.
  6. Unemployment held steady at 4.9%.
  7. Initial jobless claims came in at 278k, the 4-week average rose to 270.25k.


  1. PMI services index fell to 49.7, the weakest reading since the government shutdown in 2013.
  2. Pending home sales fell 2.5% m/o/m.
  3. Average hourly earnings fell 0.1%, down from the 0.5% previous gain.
  4. Markit Economics’ manufacturing index fell to 51.3, its third lowest reading since October 2012.
  5. ISM Manufacturing index rose to 49.5, but has remained below breakeven levels since September.
  6. The MBA mortgage composite index fell 4.8% w/o/w.
  7. Nonfarm productivity fell 2.2% q/o/q.
  8. Chicago PMI came in at 47.6, the third month in a row below consensus.
  9. Bloomberg’s consumer comfort came in at 43.6, the first reading below 44 all year.
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