Economic Statistics for 5 May 15
March’s trade deficit was much higher than expected at $-51.4 billion. This may push 1st Quarter GDP into negative territory on revision.
Gallup’s U.S. economic confidence index for April fell from -2 in March to -9.
Redbook reports that last week’s retail sales weakened again, falling to 1.4% on a year-ago basis, from the previous week’s 1.6%.
The PMI Services Index fell -1.8 points to a still-strong 57.4 in April. Both costs and finished prices rose, some of the first inflation signals of any report.
The ISM non-manufacturing index strengthened from 56.5 to 57.8 in April. Unlike the PMI, however, there are no signs of price pressure.