Economic Statistics for 12 May 15
The Fed’s Labor Market Conditions Index fell from -0.3 to -1.9 in April, remaining in negative territory for two consecutive months.
Redbook reports that last week’s retail sales rose to a better, but still-soft 2.1% on a year-ago basis, from the previous week’s 1.6%.
The NFIB Small Business Optimism Index rose solidly in April, up 1.7 points to a higher-than-expected 96.9.
The Job Openings and Labor Turnover Survey (JOLTS) softened unexpectedly to 4.994 million in March from 5.133 million in February.
The Treasury’s budget for April showed a higher-than-expected surplus of $156.7 billion. Individual income taxes are up a year-on-year 12.9%. Corporate taxes, which make up only 9.3% of receipts, are up 11.8%. Total receipts are up 8.9%. Spending, meanwhile, increased 6.4%, led by an 8.2% increase in Medicare. Defense spending is down 3.0% from last year.