Succinct Summation of Week’s Events 5.3.19

Succinct Summations for the week ending May 3rd, 2019

Positives:

1. Unemployment rate fell from 3.8% to 3.6% in April.
2. Non-farm payrolls came in at 263k m/o/m, above the expected 180k.
3. ADP employment report shows private payrolls coming in at 275k, above expected 180k.
4. Pending home sales rose 3.8% m/o/m, greater than the expected increase of 0.7%.
5. Consumer confidence rose from 124.2 to 129.2 in April, above expected 127.1.
6. Factory orders rose 1.9% m/o/m, above the expected increase of 1.5%
7. PMI manufacturing index finished April at 52.6, slightly above previous 52.4.

Negatives:

1. Home mortgage apps fell by 4.0% for the second straight week.
2. Jobless claims remained unchanged for the week at 230k, below expected 215k.
3. Retail inventories fell 0.3% m/o/m following the previous increase of 0.2%.
4. ISM mfg index fell by 2.5 points m/o/m from 55.3 to 52.8.
5. PMI services index fell 2.3 points m/o/m from 55.3 to 53.0.
6. Same store sales rose 5.5% w/o/w, decelerating from previous 6.0% increase.
7. Construction spending fell 0.9% m/o/m after an expected increase of 0.2%.

Thanks, Matt!

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