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Good
- U.S. employers added 280k new jobs in May, beating estimates for 220k
- Personal Income rose at 0.4%, beating estimates for 0.3%
- The ISM manufacturing index came in at 52.8, beating estimates for 51.8.
- The PMI manufacturing index came in at 54, beating estimates for 53.8
- Auto sales rose to 14.2M, beating estimates for 13.6M. It was the fastest increase in nearly a decade
- ADP said U.S.employers added 201k in May, just beating estimates for 200k
- The U.S. trade gap fell by 19%, largest in 6 years and eased concerns of a Q2 slowdown
Bad
- Consumer Spending – M/M Change was flat, missing estimates for a gain of 0.5%
- The PMI service index came in at 56.2, missing estimates for 56.5
- The ISM non-mfg index came in at 55.7, missing estimates for 57.2
- U.S. productivity fell at a -3.1% annual rate in Q1, down sharply from the previously reported +1.9% rate
- The Fed’s beige book downgraded the strength of the economy
