Wednesday, April 2, 2014

Morning Journal--Latest data from the CBO on income and inequality

Economics

   This Week’s Data

            The International Council of Shopping Centers reported weekly sales of major retailers up 3.6% versus the prior week and up 0.6% on a year over year basis; Redbook research reported month to date retail chain store sales up 2.3% versus the comparable period a year ago.

            The March Markit PMI came in at 55.5 versus expectations of 56.8.

            The March Institute for Supply Management’s manufacturing index was reported at 53.7 versus estimates of 54.0.

            February construction spending was up 0.1%, in line; however, the January number was revised from +0.1% to -0.2%.
           
            March light vehicle sales were 13 million units versus forecasts of 12.4 million units.

            Weekly mortgage applications fell 1.2% while purchase applications rose 1.0%.

            The March ADP private payroll report showed employment grew by 191,000 jobs versus an anticipated increase of 193,000 jobs; however, February’s number was revised from +139,000 to +178,000.

   Other

            A brief counterpoint to Michael Lewis’s book on high frequency trading (short):

            Latest data from the CBO on income and inequality (medium):

            EU youth unemployment (short):

Politics

  Domestic

Wednesday morning humor. April Fools (remember seeing this on the Steve Allen show):


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