Tag Archives: retail
Payroll employment in the month of May rose by 175,000, which was more than most expected. Revisions to both March and April, however, showed a downward adjustment of 12,000. In general, employment growth has moderated from a 207,000 + per month pace in the October to March period, to a 158,000 pace in the second [...]
The Institute for Supply Management (ISM) services index dropped 0.9 points to 54.2 in October from September, which suggests that the non-manufacturing sector continued to expand but at a more moderate pace over the period. New orders or bookings moderated, while employment picked up.
Real GDP growth disappointed, falling short of the 3.0% threshold and growing at a 2.8% rate in the fourth quarter. Sharp declines in both federal (defense spending), in addition to state and local governments, were the primary drag on growth. Both consumer spending and business investments were also more tepid than many expected.