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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