Economic Statistics for 1 May 13
Here are today’s statistics on the state of the economy:
The MBA reports mortgage applications rose 1.8% last week, with purchases down -1.4% but re-fis up 3.0%.
ADP is reporting private payrolls rose by only 119,000 in April, down sharply from March’s 158,000, which seems like bad news for Friday’s Employment Situation.
The PMI Manufacturing Index fell to 52.1 in April on slowing order growth and employment.
The ISM Mfg Index fell to 50.7 in April, largely from a drop in inventories.
Construction spending fell -1.7% in March, with both public and private construction spending in decline. Spending is up 4.8% from last year.
Automakers are reporting sales today, and they look good. Ford reports an 18% increase, while GM and Chrysler report 11%.