Economic Statistics for 2 May 12
The following statistics were released today on the state of the US economy:
The MBA reports mortgage applications rose 0.1% last week, with purchases increasing 2.9%, and re-fis falling -0.7%.
The ADP Employment Report is disappointing. ADP estimates that April private payrolls rose by only 119,000, which means Friday’s employment report may be…not good.
Factory orders fell unusually sharply in March, falling -1.5%, down from a Feb increase of 1.3%. Factory orders are pretty volatile month-to-month, but this is an especially big swing.