Succinct Summations for the week ending May 11th, 2018
Positives:
1. March saw 6.55mm job openings, a record number (survey dates back to 2000). That was up from 6.08mm in February;
2. Jobless claims came in at 211k, beating the expected 220k.
3. Same store sales growth rose 4.2% y/o/y, up from previous 3.5%.
4. Consumer prices rose .2% m/o/m in April at the headline level and .1% ex food and energy. Both were one tenth below the forecast
5. Import prices rose .3% while export prices rose .6% for the month of April.
Negatives:
1. Bank of England could not find the will to raise interest rates 25 bps from the current ultra-low levels of 0.50%
2. Consumer credit came in at 11.6 billion in March, well below expected 15.6 billion.
3. Mortgage applications fell a seasonally adjusted .2% w/o/w.
4. PPI-FD rose .1% m/o/m, below expected .3%.
5. Bloomberg consumer comfort index fell .7 from prior 56.5 to 55.8.
Thanks, Matt
