Free Markets, Free People

Economic Statistics for 4 May 16

The nation’s international trade deficit fell to $-40.4 billion, but the month’s -3.6% drop in imports may signal falling demand.

Non-farm productivity fell an annualized -1.0% in the 1st Quarter of 2016, while unit labor costs rose 4.1%.

The ADP Employment Report estimates that only 156,000 private sector jobs were created in April.

Factory orders rose a solid 1.1% in March, following a downwardly revised -1.9% decline in February. 

Gallup’s U.S. Job Creation Index fell -2 points to 30 in April.

The PMI Services Index rose 1.5 points to 52.8 in April. Similarly, the ISM Non-Manufacturing Index rose 1.2 points to 55.7.

The MBA reports that mortgage applications fell -3.4% last week, with purchases up 1.0% but refis down -6.0%.

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