Succinct Summation of Week’s Events 11.4.16

Succinct Summations for the week ending November 4th, 2016


1. Average hourly earnings increased at a post-crisis high of 2.8% y/o/y, above the 2.6% expected rise.
2. Personal income rose 0.3% m/o/m, consumer spending increased by 0.5%.
3. Nonfarm productivity rose 3.1% q/o/q.
4. Unemployment remains low, coming in again at 4.9%.
5. PMI manufacturing index rose from 51.5 to 53.4. PMI services index rose from 52.3 to 54.8.
6. ISM manufacturing index came in at 51.9, slightly above the 51.6 expected.
7. The previous ADP employment report was revised from 154k up to 202k.


1. Nonfarm payrolls fell to 161k, down from 156k previously (which was revised up to 191k).
2. ADP employment fell to 147k, below the 170k expected.
3. Jobless claims rose from 258k to 265k. The 4-week moving average rose from 253k to 257.75k.
4. Chicago PMI fell from 54.2 down to 50.6 and below the 54.3 expected.
5. ISM non manufacturing fell from 57.1 previously to 54.8, below the 56.1 expected.
6. MBA mortgage applications fell 1.2%.
7. Factory orders rose just 0.3% m/o/m.

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