Factory orders rose 1.9 percent in April, largest increase in six months

Factory orders increased 1.9 percent in April, the biggest gain since a 2.4 percent rise in October. Orders had been up 1.7 percent in March after having fallen in February.

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Manufacturing economy grew again in May for third straight month

The May PMI® registered 51.3 percent, an increase of 0.5 percentage point from the April reading of 50.8 percent. and registering growth for the third consecutive month.

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Service sector economy grew at slower pace in May

The NMI® registered 52.9 percent in May, 2.8 percentage points lower than the April reading of 55.7 percent. Overall, the report reflects a slowing in momentum from the previous months of growth for the non-manufacturing sector.

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May job growth dropped sharply to 38,000

The U.S. economy created the fewest number of jobs in more than five years in May, hurt by a strike by Verizon workers and a fall in goods producing employment, pointing to labor market weakness that could make it difficult for the Federal Reserve to raise interest rates.

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Initial unemployment claims dip by 1,000 in latest report

In the week ending May 28, initial employment claims were 267,000, a decrease of 1,000 from the previous week’s unrevised level of 268,000. The 4-week moving average was 276,750, a decrease of 1,750 from the previous week’s unrevised average of 278,500.

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Mortgage applications dip 4.1 percent in latest survey

The Market Composite Index decreased 4.1 percent from one week earlier, with refinances down 4 percent and purchase loans falling 5 percent. The average contract interest rate for 30-year fixed-rate mortgages remained unchanged at 3.85 percent.

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Conference Board: Consumer confidence declined slightly in May

Consumer confidence declined slightly in May, primarily due to consumers rating current conditions less favorably than in April, and expect little change in economic activity in the months ahead.

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Federal Reserve’s Beige Book reports modest growth thru mid-May

The economy grew at a modest pace in much of the country from April to mid-May, leading to tightening labor markets and higher wages.

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Planned job cuts fell 53 percent from April to May to lowest total since December 2015

The number of job cuts announced by U.S.-based employers fell sharply in May, falling by 53 percent from April to 30,157 and is the lowest total since last December.

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Consumer sentiment rebounded in May to highest level in nine months

Consumer sentiment rebounded in May to its highest level in the last nine months. There have been only four times out of the last 110 monthly surveys that the Sentiment Index was higher.  Overall, the data indicate that real consumption will grow by 2.5% in 2016 and by 2.7% in 2017.

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Consumer spending spiked 1.0 percent in April as annual core inflation remained at 1.6 percent

U.S. consumer spending recorded its biggest increase in more than six years in April, rising by 1.0 percent. In the 12 months through April the core inflation index rose 1.6 percent.

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First quarter GDP growth estimate rose to 0.8 percent in second estimate

Real gross domestic product increased at an annual rate of 0.8 percent in the first quarter of 2016, according to the “second” estimate. In the fourth quarter, real GDP increased 1.4 percent.

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Construction spending dipped 1.8 percent in April from March but still up 4.5 percent year-on-year

Following a strong March, construction spending dipped 1.8 percent in April while residential spending fell 1.5 percent.  However, overall spending is still 4.5 percent higher than in April 2015.

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March Case-Shiller Home Price Index up 5.2 percent year-on-year and 0.7 percent from previous month

The S&P/Case-Shiller U.S. National Home Price Index reported a 5.2% annual gain in March, down from 5.3% the previous month. Before seasonal adjustment, the National Index posted a month-over-month gain of 0.7% in March.

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Private sector job growth dipped again to 156,000 in April

Private-sector employment increased by 156,000 in April, which compares to 194,000 the previous month and 191,000 in April 2015.  Manufacturing jobs declined by 11,000.

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