Economy in Brief: 2017

The U.S. trade deficit in goods and services widened to $47.6 billion in April, compared to $45.3 billion in March, initially reported as $43.7 billion, and $38.4 billion in April 2016. Expectations had been for a $45.8 billion [...]

The overall PPI (PPI excluding construction) rose by 0.1% in April after falling by 0.4% in March. The year-on-year pace is up to 4.3%, but the three-month change shows a 0.6% decline at an annualized rate. This unwinds the [...]

The May employment report sent mixed signals about labor market conditions. Nonfarm payrolls rose 138,000 (1.5% y/y) last month. A 182,000 increase had been expected in the Action Economics Forecast Survey. The rise followed a 174,000 [...]

The euro area showed its manufacturing PMI gain in May as the manufacturing PMIs gains in three of the largest EMU economies. But there were step backs in 8 of these key 15 markets. There were also eight for which the three-month [...]

Light vehicle sales continue to soften. Total sales of light vehicles fell 1.3% during May to 16.66 million units (SAAR) from 16.88 million in April, according to the Autodata Corporation. Sales fell 3.0% y/y. During the first five [...]

Initial unemployment insurance claims increased to 248,000 (-7.5% y/y) during the week ended May 27 from 235,000 during the prior week, revised from 234,000. Expectations called for 238,000 claims in the Action Economics Forecast [...]

The ISM factory sector composite index, at 54.9, was little changed last month from April's reading of 54.8. The figure has been trending higher since Q4'15. A level of 54.8 had been expected in the Action Economics Forecast Survey. A [...]

Business hiring remains firm. The ADP/Moody's National Employment Report indicated that private nonfarm payrolls increased 253,000 (2.1% y/y) during May following a 174,000 April rise, revised from 177,000. A 180,000 increase had been [...]