Economic Statistics for 1 May 12 (Updated)
The following statistics were released today on the state of the US economy:
Despite the general indications that the economy is slowing, the ISM Mfg Index rose to 54.8 from 53.4 in April.
ICSC-Goldman reports that bad weather dragged retail sales down -0.3% for the week, but up 4.2% year over year. Redbook is even worse, showing a steep y/y slowdown to 2.9%.
March construction spending was unexpectedly poor, rising only 0.1% over February, and 6% over 2010.
US auto sales for April came in at a 14.4 million annual rate, unchanged from the rate in March.