Economic Statistics for 1 May 14
April auto sales cooled slightly, to an annual pace of 16.0 million vice March’s 16.4 million.
Challenger’s layoff count rose to 40,298 in April from 34,399 in March, led by layoffs in the retail sector.
Weekly initial jobless claims rose 16,000 to 344,000. The 4-week average rose 3,250 to 320,000. Continuing claims rose 97,000 to 2.771 million.
Personal income rose 0.5% in March, while personal spending increased by 0.9% The PCE price index rose 0.2% at both the headline and core level. On a year-over-year basis, personal income rose 3.4% while spending rose 4.0%. The PCE price index rose 1.1%, and 1.2% ex-food and -energy.
Markit’s final PMI Manufacturing Index for April fell 0.1 points to 55.4.
The Bloomberg Consumer Comfort Index plummeted from -25.4 to -37.9 in the latest week.
The ISM manufacturing composite index rose 1.4 points to 54.9 in April.
Construction spending in March rose a less-than-expected 0.2%, an increase of 8.4% from March 2013.
The Fed’s balance sheet fell $-0.3 billion last week, with total assets of $4.296 trillion. Total reserve bank credit rose by $4.6 billion.
The Fed reports that M2 money supply fell by $-25.8 billion in the latest week.