Succinct Summations for the week ending September 1st, 2017
1. Q2 GDP was revised up from 2.6% to a 3% SAAR.
2. ADP employment came in at 237k versus a 185k expected reading.
3. Personal income rose 0.4% in July, in line with expectations.
4. ISM manufacturing rose from 56.3 to 58.8 and above the 56.6 expected.
5. Jobless claims remain low coming in at 236k with the 4-week average at 236.75k.
6.Consumer confidence rose from an already strong 121.1 to 122.9.
7. Chicago PMI continues to come in strong at 58.9, in line with expectations.
1. Nonfarm payrolls fell from 209k to 156k, below the 180k expected. Previous month revised down to 189k
2. Average hourly earnings rose 0.1% m/o/m and 2.5% y/o/y, both slightly below expectations.
3. Case-Shiller prices rose just 0.1% m/o/m, versus expectations for a 0.3% increase.
4. Consumer spending rose 0.3% in July, below the 0.4% expected increase.
5. The MBA mortgage composite index fell 2.3% w/o/w, its third straight decline.
6. PMI manufacturing fell from 53.5 to 52.8
7. Construction spending fell 0.6% m/o/m.
Thanks, Mike !