Succinct Summations for the week ending March 8th, 2019
Positives:
1. Average hourly earnings grew by 0.4% m/o/m, higher by 3.4% y/o/y, the best since 2009;
2. Unemployment rate fell 0.2% m/o/m, from 4.0% to 3.8%.
3. Housing starts rose to 1.230M in January, above the expected 1.170M.
4. Jobless claims fell 3k w/o/w from 226k to 223k.
5. New home sales rose 3.7% in December from 599k to 621k.
6. Non-farm productivity rose 1.9% q/o/q, beating the expected 1.6%.
Negatives:
1. Non-farm payrolls rose 20k, below the expected 175k.
2. Mortgage apps fell a seasonally adjusted 3.0% w/o/w, down from previous 6.0% rise.
3. International trade deficit fell to -59.8B in December, falling below the expected -57.6B.
4. Job layoffs rose to a 3-year high of 76,835 in February.
5. Construction spending fell 0.6% m/o/m, missing the expected 0.3% increase
6. Same store sales rose 4.2% w/o/w, decelerating from previous 5.2% increase..
Thanks, Matt!
