
Four consecutive +200k monthly non-farm payroll reports is impressive, but it will take more than headline improvement to thrust the economy above current trend growth. Employment gains thus far have not yet led to wage pressures. Without adequate income growth, the consumer remains limited in spending capacity, which is restraining near-term growth prospects.
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New orders for manufactured goods were up for the third consecutive month in April, rising 0.7% to $499.8 billion. April was at the highest level since the series was first published on a NAICS basis in 1992 and followed a 1.5 percent March increase.
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Manufacturing activity expanded throughout the nation with a notable improvement along the East Coast. Growth was particularly strong for several Distracts related to motor vehicles, aerospace, and metals. Both non-residential construction activity and commercial real estate markets were generally steady to stronger since the last report.
Read More →The 0.1% drop in personal consumption expenditures follows an upwardly revised 1% increase during March, which was the largest gain since August 2009 and is the first decline in a year.
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UPDATED -- The broadest measure of American economic health shows it throttled back in the first quarter of the year, according to the U.S. Commerce Department.
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U.S. trade with its next-door neighbors totaled $101.5 billion in March 2014, the second highest amount on record, as four of five transportation modes carried more freight than the same time a year ago, according to new U.S. Transportation Department report.
Read More →UPDATED: Shipments for these items designed to last three years or more fell 0.2% from March, following a 1.3% gain. The decline was led by a 1% drop in transportation shipments.
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UPDATED -- Three newly released reports suggest the American economy may finally be shaking off the winter doldrums that brought business activity down in the first quarter, with expectations of improvements well into the year.
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The American Trucking Associations’ For-Hire Truck Tonnage Index increased 1.5% in April, after rising 0.6% the previous month, according to newly released figures. In April, the index equaled 129.1 versus 127.2 in March. The all-time high was in November 2013 at 131.
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UPDATED -- A new report shows consumer prices rising for the sixth straight month, with the Consumer Price Index increasing 0.3% in April from the month before, the biggest gain in 10 months.
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