Dale Franks’ QandO posts
Imports rose 1.3%, while exports rose only 1.0% in February, widening the International Trade gap to $-47.1 billion for the month.
The Gallup Economic Confidence Index rose to -10 from -13 in March.
Redbook reports that last week’s retail sales increase fell to 0.6% on a year-ago basis, from the previous week’s 1.5%.
The PMI Services Index rose 1.6 points to 51.3 in March.
The ISM non-manufacturing index rose a sharp 1.1 points in March to a 54.5.
The Labor Department’s Job Openings and Labor Turnover Survey fell to 5.445 million in February, from January’s 5.541 million.
Factory orders plunged -1.7% in February, with core capital goods dropping -2.5%, indicating trouble for business investment.
The Fed’s Labor Market Conditions Index rose slightly, but remained in negative territory for March at -2.1.
Gallup’s US Consumer Spending Measure reports that American’s self-reported daily spending rose from $84 to $89 in March.
Dale finally gets a car…which breaks down the same day. Meanwhile, Michael’s law school adopts a new name that results in the school’s acronym being ASSOL.
This week’s podcast is up on the Podcast page.
The Gallup Good Jobs (GGJ) rate was 44.4 percent in March.
Challenger reports that the number of layoff announcements fell to 48,207 in March.
The Chicago PMI rose from 47.6 to 53.6 in March.
Initial weekly jobless claims rose 11,000 to 276,000. The 4-week average rose 3,500 to 263,250. Continuing claims fell -7,000 to 2.173 million.
The Bloomberg Consumer Comfort Index fell -0.8 points to 42.8 in the latest week.
The Fed’s balance sheet fell $-10.0 billion last week, with total assets of $4.483 trillion. Reserve bank credit fell $-6.2 billion.
The Fed reports that M2 money supply rose by $37.5 billion in the latest week.
Motor vehicle sales slowed sharply in March, down -5.1% to a 16.6M annual rate.
215,000 net new jobs were created in March, as the unemployment rate rose to 5.0%. The labor force participation rate rose to 63.0%. Average hourly earnings rose 0.3%, while the average workweek remained unchanged at 34.4 hours.
The PMI Manufacturing Index was only slightly changed, up 0.2 points to 51.5.
The ISM Manufacturing Index rose from 49.5 to 51.8 in March.
The University of Michigan’s Consumer Sentiment Index rose 1.0 point to 91.0 in March.
Construction spending fell -0.5% in February, but the year-on-year rate of spending was up 10.3%.
The Conference Board’s Consumer Confidence Index rose 4 points in March to 96.2.
State Street’s Investor Confidence Index rose 8.1 points in March to 114.6.
The Case-Schiller Home Price Index rose 0.8% in January. On a year-over-year basis, the index is up 5.7%.
Redbook reports that last week’s retail sales rose to a lackluster 1.5% on a year-ago basis, from the previous week’s 0.8%.
Exports rose 2.0% and imports rose 1.6% in February, leaving a $-62.9 billion deficit for the month’s international trade in goods.
February personal income rose 0.2%, while consumer spending rose 0.1%. The PCE price index fell -0.2%, but the core rate rose 0.1%. On a year-over-year basis, the PCE Price Index is up 1.0% overall, and 1.7% at the core.
The Pending Home Sales Index rose 3.5% to 109.1 in February.
The Dallas Fed Manufacturing Survey rose strongly from -31.8, but remains deeply negative at -13.6 in March. The production index rose from -8.5 to 3.3.
Durable goods orders plunged -2.8% in February, with non-transportation orders down -1.0% and core capital goods down -1.8%. Even worse, on a year-over-year basis, while orders are up 1.8% overall, ex-transportation orders are down -0.5%, and core capital goods are down -0.1%. So, basically jumbo jet orders are the only things that are up.
The Kansas City Fed’s Manufacturing index rose from -12 to a still-negative -6.
The PMI Services Flash rose from 49.8 to 51.0 in March.
Initial weekly jobless claims were unchanged at 265,000. The 4-week average fell 8,250 to 259,750. Continuing claims fell 239,000 to 2.179 million.
The Bloomberg Consumer Comfort Index fell 0.7 points to 43.6 in the latest week.
The Fed’s balance sheet rose $6.5 billion last week, with total assets of $4.493 trillion. Reserve bank credit rose $4.5 billion.
The Fed reports that M2 money supply rose by $22.8 billion in the latest week.