Economic Statistics for 1 Jun 16
May motor vehicle sales kept pace with April, at a 17.5 million annual rate, with North American vehicles selling at a 13.8 million pace.
The Fed’s Beige Book seems to indicate the economy is slowing, characterizing the nation’s economic growth as generally “modest”.
Construction spending fell -1.8% in April, with the year-on-year rate falling to 4.5%, the lowest since June, 2013.
The PMI Manufacturing Index for May fell -0.1 points to 50.7, but the ISM Manufacturing index rose 0.4 points to 51.3.
Gallup’s U.S. Job Creation Index rose 3 points to 33 in May.
Redbook reports that last week’s retail sales growth rose to an anemic 0.9% on a year-ago basis, from the previous week’s even weaker 0.4%.
The MBA reports that mortgage applications fell -4.1% last week, with purchases down -5.0% and refis down -4.0%.