May 12, 2017

Final Demand Producer Prices were up 0.5% for April 2017 and up 2.5% year-over-year. Consumer prices were up 0.2% for April and up 2.2% year-over-year. Finally, retail sales were up 0.4% for April, roughly in line with consensus. Otherwise it was a fairly slow economic week.
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May 05, 2017

The April PMI and ISM Manufacturing Indexes came in at 52.5 and 54.8, respectively, both still expansionary. The April PMI and ISM Services Indexes came in at 53.1 and 57.5, respectively, also expansionary. The FOMC kept rates steady this week, as expected. The Trump Administration received passage of its healthcare bill replacement to President Obama's former healthcare plan. Q1 Non-farm productivity came in at an annualized rate of 0.6%, which was above consensus. Unit labor costs were up at a 3.0% annualized rate for the quarter. Factory orders for March 2017 were relatively flat. Finally, the U.S. Unemployment rate fell to 4.4% in April from 4.5% in March.
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