THE BASIS POINT

Consumer Spending Flat.

 

Personal Income and Outlays (April 2015)

– Personal Income month/month  +0.4%. Previous was +0.0%
– Consumer Spending month/month +0.0%. Previous was +0.5%
– PCE Price Index month/month +0.0%. Previous was +0.2%
– Core PCE price index month/month +0.1%. Previous was +0.1%
– PCE Price Index year/year    +0.1%. Previous was +0.3%
– Core PCE price index year/year  +1.2%. Previous was +1.4%.

Flat consumer spending in April is not a good sign for 2ndQ GDP.

 

Construction Spending (April 2015)

– Construction Spending month/month +2.2%. Previous was +0.5%.
– Construction Spending year/year  +4.8%.
– Private Residential Construction Spending month/month was +0.6%.

 

PMI Manufacturing Index (May 2015)

– Index Level 54.0. Previous was 54.1.

ISM Manufacturing Index (May 2015)

– Index Level  52.5. Previous was 51.5

 

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