RJS: MarketWatch 666 Summary: modest revision. The internals were revised as much as I’ve ever seen. PCE growth from 3.1% to 1.8%, real gross private domestic investment growth from 0.5% to 5.0%. Mostly due to greater inventories. Those 1st quarter inventories set up the 2nd quarter for a fall. ~~~~~~~ 1st Quarter GDP Revised to Show Our Economy Shrunk […]

RJS, MarketWatch 666 ~~~~~~~ Summary: Producer Prices Rose 0.8% in May; Record Annual Increase of 16.6% for Final Demand Goods The seasonally adjusted Producer Price Index (PPI) for final demand rose 0.8% in May, as average prices for finished wholesale goods rose by 1.4% while final demand for services was 0.4% higher. The increase followed a revised […]

RJS, MarketWatch 666 ~~~~~~~ Summary: Retail Sales Fell 0.3% in May After March and April Sales Were Revised Lower Seasonally adjusted retail sales fell 0.3% in May after retail sales for April were revised 0.4% lower. The  Advance Retail Sales Report for May (pdf) from the Census Bureau estimated our seasonally adjusted retail and food services […]

RJS: MarketWatch 666 ~~~~~~~~ Summary: April Trade Deficit Decreased by a record 19.1%, Led by Lower Imports of Consumer Goods and Industrial Supplies and Materials ~~~~~~~~ Our trade deficit was 19.1% lower in April, as our exports increased while our imports decreased. The  Commerce Dept report on our international trade in goods and services for […]

RJS: MarketWatch 666 Summary: Construction Spending Up 0.2% on Higher Prices in April, after March Spending was Revised 0.6% Higher The Census Bureau’s report on construction spending for April (pdf) estimated the month’s seasonally adjusted construction spending was at a $1,744.8 billion annual rate during the month. Up 0.2 percent (±0.8 percent)* from the revised March annual […]

RJS: MarketWatch 666 Summary: 1st quarter GDP revision; April’s personal income and outlays, durable goods, and new home sales 1st Quarter GDP Revised to Show Our Economy Shrunk at a 1.5% Rate The Second Estimate of our 1st Quarter GDP from the Bureau of Economic Analysis indicated that our real output of goods and services shrunk at […]

RJS, MarketWatch 666 Summary: Retail Sales Rose 0.9% in April after March Sales Revised 0.9% Higher Seasonally adjusted retail sales rose 0.9% in April, after retail sales March were revised 0.9% higher, while sales for February were revised a bit lower . . . the Advance Retail Sales Report for April (pdf) from the Census Bureau estimated […]

RJS, MarketWatch 666 Summary: Producer Prices Rose 0.5% in April; Record Annual Increase of 16.3% for Final Demand for Goods The seasonally adjusted Producer Price Index (PPI) for final demand rose 0.5% in April, as average prices for finished wholesale goods rose by 1.3% while final demand for services was unchanged . . . that increase followed […]

Trade deficit was at another record high in March. 22.3% higher than February’s record

RJS, MarketWatch 666 Summary: Construction Spending Rose 0.1% in March after Prior Months Were Revised Higher The Census Bureau’s report on construction spending for March (pdf) estimated that the month’s seasonally adjusted construction spending would work out to $1,730.5 billion annually if extrapolated over an entire year, which was 0.1 percent (±0.7%)* above the revised annualized February […]