Weekly initial jobless claims rose 28,000 to 326,000. The 4-week average fell 1,250 to 322,500. Continuing claims fell 13,000 to 2.653 million.
The Chicago Fed National Activity Index fell sharply from 0.20 to -0.32 in April.
The Markit PMI manufacturing index flash for May rose 1.8 points to 56.2.
The Bloomberg Consumer Comfort Index fell 3 points to 34.1in the latest week.
Existing home sales rose 1.3% in April to a 4.65 million annual rate. Sales are still down -6.8% on a year-ago basis, however.
The Conference Board’s index of leading indicators rose 0.4% in April.
The Kansas City Fed manufacturing index rose 3 points to 10 in May.
The Fed’s balance sheet fell $9.1 billion last week, with total assets of $4.328 trillion. Total reserve bank credit rose by $2.7 billion.
The Fed reports that M2 money supply rose $4.6 billion in the latest week.
It’s a light week for economic data. Only weekly retail sales numbers are on tap for today. ICSC-Goldman reports weekly retail sales down -1.3%, and up only 2.4% on a year-over-year basis. Redbook reports a 3.9% increase in retail sales over last year, which is also slowing from last week.
Consumer prices rose 0.3% in April, with prices less food and energy–the “core” rate–rising 0.2%. On a year-over-year basis, the CPI is up 2.0%, while the core rate is up 1.8%.
Weekly initial jobless claims fell 24,000 to 297,000. The 4-week average fell 750 to 323,250. Continuing claims fell 9,000 to 2.667 million, a recovery low. Or what would be a recovery low had we ever had an actual recovery. But, I digress.
The General Business Conditions Index of the New York manufacturing survey made a rare jump of almost 18 points to 19.01 in May.
The General Conditions Index of the Philadelphia Fed Survey fell -1.2 points to 15.4 in May.
The Treasury Department reports that foreign demand for long-term U.S. securities was a net $4.0 billion in March.
The Fed reports that industrial production fell -0.6% in April, as capacity utilization in the nation’s factories fell to 78.6%. Manufacturing declined by -0.4%.
The National Association of Home Builders reports that the Housing Market Index fell -2 points to 45 in May.
E-Commerce retail sales in the 1st Quarter of 2014 rose 2.8%, versus 3.4% in the 4th Quarter of 2013.
The Fed’s balance sheet rose $33.5 billion last week, with total assets of $4.337 trillion. Total reserve bank credit rose by $18.0 billion.
The Fed reports that M2 money supply rose $22.6 billion in the latest week.
The MBA reports that mortgage applications rose 3.6% last week. Purchases were down -1.0% but re-fis rose 7.0%.
Producer prices rose 0.6% overall in April, with both goods and services prices up 0.6%. Ex-food and -energy, prices rose 0.5%. Less food, energy, and trade services, prices rose 0.3% On a year-over-year basis, the overall PPI is up 2.1%, with goods prices up 2.5% and services prices up 2.0%.
The Atlanta Fed’s Business Inflation Expectations survey shows inflation expectations in May are unchanged at 1.9%.
The NFIB small business optimism index rose a sharp 1.8 points to 95.2 in April. It’s the highest reading since since 2007.
ICSC-Goldman’s read on retail sales shows a weak -0.1 sales drop from last week, but a strong year-over-year 3.9% increase. Redbook’s weekly retail sales figure shows year-on-year strength, with a 4.2% sales increase.
The Census Bureau’s April retail sales report shows a soft 0.1% increase. Sales ex-autos were unchanged. sales ex-autos and -gas fell -0.1%.
April export prices fell -0.1%, and import prices fell -0.4%. On a year-over-year basis, export prices rose 0.1%, while import prices fell -0.3%.
Business inventories rose 0.4% in March, while a 1.0% rise in sales kept the inventory-to-sales ratio unchanged at 1.30.
Those chain stores that still report monthly sales showed exceptionally good April sales, helped by warmer weather and a late Easter.
Weekly initial jobless claims fell 26,000 to 319,000. The 4-week average rose 4,7540 to 324,750. Continuing claims fell 76,000 to 2.685 million.
The Bloomberg Consumer Comfort Index fell -0.8 points to 37.1 in the latest week.
The Fed’s balance sheet rose $7.1 billion last week, with total assets of $4.303 trillion. Total reserve bank credit rose by $5.6 billion.
The Fed reports that M2 money supply rose $51.2 billion in the latest week.
The MBA reports that mortgage applications rose 5.3% last week. Purchases rose 9.0% and re-fis 2.0%.
Gallup’s Job Creation Index rose 2 points to 25 in April.
Non-farm productivity fell a sharp -1.7% annualized in the 1st Quarter of 2014 while unit labor costs rose 4.2%. Weather distortions are being blamed. On a year-over-year basis, productivity is up 1.4%.
The JP Morgan Global Composite PMI fell -0.7 points to 52.8 in April. The Global Services PMI fell -0.8 points to 52.7.
Consumer credit expanded by a sharp $17.5 billion in March, but it’s mainly in non-revolving credit.