Global Macro Perspectives
U.S. housing starts were reported at 593.000 vs. revised 659.00 April reading. The consensus was at 648.000. Building permits in the same period fell 5.9% to 574.000. Bad report. Chart 1. U.S. Housing Starts Chart 2. U.S. Building Permits
Did not have time to post this on Friday. Consumer sentiment for June came out at 75.5 vs. 74.0 consensus and 73.6 May reading. Markets disregarded bad retail sales report and moved higher on consumer confidence. Highest reading since January 2008. Chart 1. University of Michigan/Reuters Consumer Sentiment
Retail sales fell 1.2% in May . The consensus was at 0.2%, April reading was a gain of 0.4%. Autos taken out, the figure was -1.1%; the consensus was at 0.1%; prior reading at 0.4%. Big and clear disappointment and a confirmation of a major economic slowdown coming in the second half of the year. Chart 1. […]
Initial jobless claims were reported at 456.000. The consensus was at 448.000, last week revised reading was at 459.000. It just doesn’t go down… Chart 1. U.S. Initial Jobless Claims
Personal income rose 0.4% MoM vs. 0.5% consensus and 0.3% March reading. On YoY level the personal income is up 2.5%. Consumer spending remained unchanged in April vs. 0.2% consensus and 0.6% prior reading. On YoY level the consumer spending is up 4.6%. Chart 1. Personal Income Chart 2. Consumer Spending
Consumer sentiment for May came out at 73.6 vs. 73.3 consensus and 72.2 April reading. Chart 1. University of Michigan/Reuters Consumer Sentiment
U.S. GDP growth in Q1 2010 was revised to 3.0%. The consensus was at 3.5%, Q4 reading was at 5.6%. Chart 1. U.S. Real GDP & Percent Change Source: Blytic.com
Initial jobless claims were reported at 460.000. The consensus was at 450.000, last week revised reading was at 474.000. Chart 1. U.S. Initial Jobless Claims
Durable good orders rose 2.9% In April vs. 1.5% consensus and 1.3% decrease in March. Transportation taken out the figure was a decrease of 1.0% vs. 2.8% rise in March. Chart 1. U.S. Durable Goods Orders Chart 2. U.S. Durable Goods Orders Ex. Transportation
Consumer Confidence came out at 63.3 vs. 59.0 consensus and 57.9 for April. Large positive surprise. Chart 1. Conference Board Consumer Confidence
Did not have time to post on Wednesday, so I’ll do it now. Moody’s/Real National Commercial Property Index declined 0.5% in March and 24.9% YoY. Chart 1. Moody’s/Real National Commercial Property Index Source: Blytic
Initial jobless claims were reported at 471.000. The consensus was at 440.000, last week reading was at 444.000. An ugly looking number. Chart 1. U.S. Initial Jobless Claims
Consumer price inflation for April was reported at -0.1%, vs. consensus of 0.1%. The prior reading was 0.1%. The core inflation was at 0%, vs. prior reading of 0.0% and consensus of 0.1%. A hint of deflation. Chart 1. U.S. Consumer Price Inflation
PPI fell to -0.1% in April vs. 0.1 consensus and 1.7% rise in March. Chart 1. U.S. Producer Price Index
U.S. industrial production rose 0.8% in April. The consensus was at 0.6%, March reading at 0.1%. Capacity utilization rose from 73.2% in March to 73.7%; the consensus was at 73.7%. Chart 1. U.S. Industrial Production and Capacity Utilization