Economic Releases & Statistics The US trade deficit widened less than anticipated in April – up from $37.1 billion to $40.3 billion compared to forecasts of a rise to $41.0 billion. Exports rose 1.2 percent to $187.4 billion – marking its second highest on record – while imports soared 2.4 percent to $227.7 billion. The ISM’s US manufacturing index unexpectedly contracted in May – falling from an April reading of 50.7 to 49 versus forecasts for a rise to 51. The decline brought the index to nearly a 4-year low, as new orders dropped to an almost 1-year low of 48.6 percent. However, the Institute’s services index expanded in May – rising from an April reading of 53.1 to 53.7 – as new orders rose from 54.5 to 56. Economists were looking for a slightly higher increase to 53.8. The US unemployment rate rose from 7.5 percent to 7.6 percent in May, as more people made an effort to head back into the workforce. Euro-Zone’s producer price index made a surprise downturn in April – declining 0.2 percent annually on a 2 percent price decline in the energy sector and a 0.3 percent fall in intermediate goods prices. Economists had expected prices to rise 2 percent. As expected, the Euro-Zone’s 1Q gross domestic product contracted 0.2 percent for a year-on-year contraction of 1.1 percent. The contraction was slower than the previous quarter’s 0.6 percent decline as inventories and household demand stabilized.
Posted on: Sun, 09 Jun 2013 23:17:34 +0000
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