Here are today’s statistics on the state of the economy. And yesterday’s too, since a family emergency kept me from posting them.
1st Quarter GDP was revised downwards to a 2.4% annualized growth rate. The GDP Price index also dropped to a 1.1% annual rate.
Initial jobless claims rose 10,000 to 354,000. The 4-week average rose 6,750 to 347,250. Continuing claims rose 63,000 to 2.986 million.
Corporate profits in the first quarter fell -4.0% to $1.738 trillion annualized.
The Bloomberg Consumer Comfort Index held at a near 5-year high at -29.7.
The Pending Home Sales Index rose a worse-than-expected 0.3% to 106.0 due to supply constraints.
The Fed reports the weekly M@ money supply fell -11.9 billion.
Personal income was unchanged in April, while spending fell -0.2%. The PCE price index fell -0.3% while the core rate was unchanged. On a year-over-year basis, income and spending were up 2.8%, while the PCE price index rose 0.7% at the headline level, and 1.1% at the core.
The Chicago Purchasing managers index rose sharply to 58.7 in May.
The Reuters/University of Michigan’s consumer sentiment index improved to 84.5 in May.