Economic Statistics for 29 Jan 16
US GDP growth fell to 0.7% annualized in the 4th Quarter of 2015, according to the Commerce Department’s initial estimate. The GDP Price index fell to 0.8%.
The nation’s trade deficit increased 2.0% in November, to $-61.5 billion, as exports fell -0.1% and imports were unchanged from the previous month.
The Employment Cost index rose 2.0% in the 4th Quarter of 2015, with a year-over-year increase of 2.0%. The quarterly increase indicates that wage pressure might be rising.
The Chicago PMI jumped from 42.9 to 55.6 in January. I wouldn’t expect this volatile result to be reflected in Monday’s nation PMI.
The University of Michigan’s Consumer Sentiment Index fell from 93.2 to 92.0 in January.