Weekly Economic Update: May 4-8, 2015
LAST WEEK
News & Commentary Weekly Highlights:
- Wall Street Journal: Dismal Growth Needs the 3.5% Solution (Thursday)
- Investor’s Business Daily: A Six-Point Plan to Restore Economic Growth and Prosperity (Thursday)
- Bloomberg: What the Fed Needs to See Before It Raises Rates (Wednesday)
- Real Clear Markets: A Few Simple Fixes Could Unleash An Economic Boom (Wednesday)
- Wall Street Journal: The Tax Burden Rises (Sunday)
Top Economic Indicator Highlights:
Gross Domestic Product (Q1:2015, advance estimate, annualized, 2009$)
- Real GDP: $16.305 trillion
- Real GDP growth: 0.2%
- Previous quarter: 2.2%
- Market expectation: 1.0%
- Noteworthy: Combined effects of a strong dollar and significantly lower oil prices contributed to the relatively stagnant growth in the advance estimate of first quarter GDP, affecting trade and investment in structures for oil and gas extraction. An increase in business inventories, healthcare spending, and consumer spending on utilities to combat the cold weather helped to offset the negatives. Overall, business investment and retail spending were muted for the quarter.
THIS WEEK
Upcoming Economic Reports & Releases:
Major Indicators
- Factory Orders (10am, Monday)
- International Trade (8:30am, Tuesday)
- Institute for Supply Management (ISM) Non-Manufacturing Index (10am, Tuesday)
- Productivity and Costs (8:30am, Wednesday)
- Consumer Credit (3pm, Thursday)
- Employment Situation (8:30am, Friday)
Chart of the Week (March):
