Weekly Economic Update: May 2-6, 2016
LAST WEEK
News & Commentary Weekly Highlights:
- Wall Street Journal: Baby Boomers, Just Eclipsed by Millennials, Will Soon Be No. 3 (Friday)
- Market Watch: Eurozone Finance Ministers Aim for Greece Bailout Deal at May Meeting (Friday)
- Wall Street Journal: Fed Signals No Rush to Raise Rates (Thursday)
- Project Syndicate: Managing Debt in an Overleveraged World (Wednesday)
- Bloomberg: End of Golden Era for Investors Spells Troubles for Millennials (Wednesday)
Top Economic Indicator Highlights:
Personal Income and Outlays (March)
- Personal Income (change M/M): $57.4 billion, % Change: 0.4%
- Consumer Spending (change M/M): $12.8 billion, % Change: 0.1%
- PCE Price Index: <0.1%, Year-on-year: 0.8%
- Core PCE Price Index: 0.1%, Year-on-year: 1.6%
- Noteworthy: Wages and salaries increased $29.2 billion in March, compared to a decrease of $4.6 billion in February. Supplements to wages and salaries increased $5.4 billion.
JEC Releases:
THIS WEEK
Upcoming Economic Reports & Releases:
Major Indicators
- Institute for Supply Management (ISM) Manufacturing Index (10am, Monday)
- Construction Spending (10am, Monday)
- Motor Vehicle Sales (Tuesday)
- International Trade (8:30am, Wednesday)
- Productivity and Costs (8:30am, Wednesday)
- Factory Orders (10am, Wednesday)
- ISM Non-Manufacturing Index (10am, Wednesday)
- Employment Situation (8:30am, Friday)
- Consumer Credit (3pm, Friday)
Chart of the Week:
The chart above shows the breakdown of average annual expenditures in the July 2014-June 2015 12-month period, based on the Bureau of Labor Statistics’ mid-year update for any group that shares expenses, whether they are families, single persons living alone, or two or more people living together. Average expenditures are up 5.9 percent in the July 2014-June 2015 period compared to the July 2013-June 2014 period, with education spending, apparel and services spending, and healthcare spending among the top three major spending increases.
