Personal Income & Spending, Factory Orders, Chicago PMI, Mich Sentiment
Personal Income +0.3% vs prior 0.7%; Spending +0.1% vs prior +0.8%; Core inflation +0.1% vs prior +0.2%.
Inside the number: YOY +1.8%; Q405 + 2.4%; Showing spending is way down and inflation is up.
Mich Sentiment 88.9 vs prior 86.7, Chicago PMI 60.4 vs prior 54.9; showing better sentiment and an improvement in the Chicago area.
Factory Orders +0.2% vs prior -3.9%; Factory Orders ex Transport -2%. Showing an improvement, but there was actually a continued slow down excluding transports.
New orders for manufactured nondurable goods -2.5%. Unfilled orders +0.9% vs prior +0.9% the highest since 1992.
Inventories to shipments ratio up to 1.17, showing that JIT is in effect and if things pick up just a little, unfilled orders could drain what little economic slack is left.
Inside the number: YOY +1.8%; Q405 + 2.4%; Showing spending is way down and inflation is up.
Mich Sentiment 88.9 vs prior 86.7, Chicago PMI 60.4 vs prior 54.9; showing better sentiment and an improvement in the Chicago area.
Factory Orders +0.2% vs prior -3.9%; Factory Orders ex Transport -2%. Showing an improvement, but there was actually a continued slow down excluding transports.
New orders for manufactured nondurable goods -2.5%. Unfilled orders +0.9% vs prior +0.9% the highest since 1992.
Inventories to shipments ratio up to 1.17, showing that JIT is in effect and if things pick up just a little, unfilled orders could drain what little economic slack is left.
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