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Consumer spending is weak in May, but so is inflation

  • June 30, 2017
  • no comment
  • realestate

Americans barely increased spending in May and choose to save more money instead even as decelerating inflation gave them more bang for the buck. Consumer spending rose 0.1% last month after back-to-back 0.4% gains in April and March, the Commerce Department reported Friday. That matched the Market watch forecast of economists.

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More on the Feds favorite gauge of inflation

  • June 30, 2017
  • no comment
  • realestate

The meager increase in spending took place against a backdrop of slowing inflation. The PCE index, the Federal Reserve’s preferred inflation gauge, fell 0.1% to mark the second decline in three months. What’s more, the 12-month rate of inflation tapered off to 1.4% in May from 1.7% in the prior month and a five-year high

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Chicago June PMI at 65.7 vs 58.0

  • June 30, 2017
  • no comment
  • realestate

The Chicago Purchasing Managers Index was at 65.7 in the month, blowing past economists’ estimates. Economists polled had expected a reading of 58.0, down from the 59.4 reading reported a month earlier. A reading above 50.0 indicates expansion in the economy.

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Consumer spending is weak in May, but so is inflation

  • June 30, 2017
  • no comment
  • realestate

Americans barely increased spending in May and choose to save more money instead even as decelerating inflation gave them more bang for the buck. Consumer spending rose 0.1% last month after back-to-back 0.4% gains in April and March, the Commerce Department reported Friday. That matched the Marketwatch forecast of economists.

READ MORE

More on the Feds favorite gauge of inflation

  • June 30, 2017
  • no comment
  • realestate

The meager increase in spending took place against a backdrop of slowing inflation. The PCE index, the Federal Reserve’s preferred inflation gauge, fell 0.1% to mark the second decline in three months. What’s more, the 12-month rate of inflation tapered off to 1.4% in May from 1.7% in the prior month and a five-year high

READ MORE

Chicago June PMI at 65.7 vs 58.0 expected

  • June 30, 2017
  • no comment
  • realestate

The Chicago Purchasing Managers Index was at 65.7 in the month, blowing past economists’ estimates. Economists polled had expected a reading of 58.0, down from the 59.4 reading reported a month earlier. A reading above 50.0 indicates expansion in the economy.

READ MORE

Poor start to 2017? Not really. First quarter GDP raised again to 1.4%

  • June 29, 2017
  • no comment
  • realestate

Gross domestic product, the official scorecard for the economy, expanded at a 1.4% annual pace in the first quarter, revised figures show. That’s a few ticks better than the prior 1.2% reading and double the initial 0.7% estimate.

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Jobless claims edge up by 2,000 to 244,000

  • June 29, 2017
  • no comment
  • realestate

The number of Americans applying for unemployment benefits rose slightly in late June but still remained extremely low, reflecting the strength of a U.S. labor market that shows no sign of wilting.

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Poor start to 2017? Not really. First quarter GDP raised again to 1.4%

  • June 29, 2017
  • no comment
  • realestate

Gross domestic product, the official scorecard for the economy, expanded at a 1.4% annual pace in the first quarter, revised figures show. That’s a few ticks better than the prior 1.2% reading and double the initial 0.7% estimate.

READ MORE

Jobless claims edge up by 2,000 to 244,000

  • June 29, 2017
  • no comment
  • realestate

The number of Americans applying for unemployment benefits rose slightly in late June but still remained extremely low, reflecting the strength of a U.S. labor market that shows no sign of wilting.

READ MORE

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