Economy in Brief: 2019

The Composite Index of Nonmanufacturing Sector Activity from the Institute for Supply Management (ISM) increased to 56.9 during May after falling to 55.5 in April. The Action Economics Forecast Survey expected stability at 55.5. [...]

ADP indicated in its National Employment Report that private nonfarm payrolls during May edged 27,000 higher (1.9% y/y) following 271,000 April rise, revised from 275,000. The March increase was revised to 158,000 from 151,000. The [...]

The chart may remind you, as it does me, of the groundhog that looks out and sees his shadow retreating to his burrow for another few weeks of winter weather. Is inflation making another major retreat? Waiting for inflation to [...]

Manufacturers' orders declined 0.8% (+1.0% y/y) during April following a 1.3% March gain, revised from 1.9%. Orders in February declined 1.0%, revised from -0.3%. A 0.9% April decline had been expected in the Action Economics Forecast [...]

Retail gasoline prices slipped one penny last week to $2.81 per gallon (-4.5% y/y), the fourth consecutive weekly decline. Haver Analytics constructs factors adjusting for the seasonal variation in gasoline pump prices. The [...]

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 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 [...]