Tomorrow’s update on personal consumption spending in April is projected to report a rise of 0.2% vs. the previous month, based on The Capital Spectator’s average econometric forecast. That matches the previously released 0.2% increase for March. The Capital Spectator’s average forecast is at the high end of consensus predictions drawn from surveys of economists.
Daily Archives: May 30, 2013
Jobless Claims Increased Last Week, But The Broad Trend Is Still Positive
The good news for jobless claims in today’s weekly update is that there’s no news. Although new filings for unemployment benefits moderately increased by 10,000 to a seasonally adjusted 354,000 last week, that’s close to a wash in terms of one data point for this volatile series. The key issue is that claims continue to hover just above the five-year low of 327,000 for the week through April 27, 2013. That’s an encouraging sign as it suggests that the May payrolls report (scheduled for release next Friday, June 7) will deliver another round of moderate growth.