The case for a second-quarter revival in the US economy took another blow in today’s April report on industrial production. Output slumped 0.3% last month, marking the fifth-straight decline for the monthly comparison, the Federal Reserve reports. The annual pace continues to slide as well, with the year-over-year change dipping to 1.9% for the 12 months through April—the first reading below the 2% line in nearly three years.
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Daily Archives: May 15, 2015
Jobless Claims Point To A Stronger Economy… Eventually
US growth ground to nearly a halt in the first quarter, but jobless claims continue to anticipate a solid pace of growth going forward. New filings for unemployment ticked lower by 1,000 last week to a seasonally adjusted 264,000, which is close to a 15-year low. The four-week average for claims, which is considered a more reliable measure of this volatile leading indicator, actually touched a new 15-year low last week. The downward bias suggests that the economy’s recent sluggish behavior will soon give way to a stronger run of growth.
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Initial Guidance | 15 May 2015
● Jobless Claims in U.S. Fall as 4-Week Average at 15-Year Low | Bloomberg
● Consumer Comfort in U.S. Declines for a 5th Consecutive Week | Bloomberg
● Reality Check: US Mall Mgrs Say Consumer Confidence Edging Up | MNI
● US producer prices slump again in April | MarketWatch
● U.S. Dollar Headed for Another Weekly Loss | MarketPulse
● Euro, Clawing Its Way Back, Hits 3-Month High | NY Times