Economy in Brief

The Autodata Corporation reported that sales of light vehicles during May increased 6.2% (1.2% y/y) to 17.40 million units (SAAR) and reversed April's 6.1% decline. Sales have been moving sideways since the middle of last year. [...]

Asian PMIs continue to weaken in May. The average Asia PMI reading weakened and the split between those getting weaker and those getting stronger month-to-month was divided at 50% again in May, just as it was in April. Weakness is [...]

The ISM manufacturing index unexpectedly declined to 52.1 during May from 52.8 in April. It was the lowest level since October 2016 and remained below the expansion peak of 60.8 last August. The Action Economics Forecast Survey [...]

The value of construction put-in-place was flat in April (-1.2% year-on-year) following an upwardly-revised 0.1% gain in March (was -0.9%). February was also revised higher, to 1.0% from 0.7%. The Action Economics Forecast Survey had [...]

The National Association for Business Economics expects 2.1% growth in real GDP during 2020 following 2.6% growth in 2019, revised from 2.0% and 2.4% in the prior forecast. Both of these growth rates are below the 2.9% gain in 2018. [...]

Globally PMIs are losing momentum. China had been seeing industrial decay early this year then it kicked out of that erosion with a jump in March. But that gain did not hold; the Chinese PMI was slipping again in May and dipping below [...]

The Chicago Purchasing Managers Business Barometer increased to 54.2 during May from April's 52.6, which was the lowest reading since January 2017. The Action Economics Forecast Survey expected a lesser increase to 53.8. The Chicago [...]

Personal consumption expenditures increased 0.3% (4.3% y/y) during April following a 1.1% March gain, revised from 0.9%. A 0.2% increase had been expected in the Action Economics Forecast Survey. Nondurable goods spending strengthened [...]