Personal Income +0.2%
Consumer Spending +0.4%
(Econoday.com) - Personal income inched up an expected 0.2 percent in December, held back by a decline in worker pay. Wages and salaries fell 0.3 percent or $15.6 billion in the month, consistent with December's flat jobs market. A one-time $7.5 billion Social Security payment in the month to retirees helped to hold up income.
Personal consumption expenditures gained 0.4 percent. Gains were led by a strong 2.1 percent rise in durable goods spending. Spending rose only 0.1 percent on services and fell 0.2 percent on nondurables.
Construction Spending +0.4%
(Econoday.com) - Construction spending rose 0.4 percent in December, half as much as expected by market players. This was the smallest monthly gain this quarter, but total construction expenditures are still up 7 percent from a year earlier. Residential construction spending posted a 0.9 percent gain in December, less than the 2.1 percent rise recorded in November and the 2.5 percent increase posted in October. While residential construction spending rose less in December than the two previous months, it was 13.7 percent higher than a year ago. Nonresidential construction spending declined 1.1 percent for the month. The nonresidential sector remains the weak point in construction.
ISM Manufacturing Index 63.6%
(Econoday.com) - The ISM manufacturing index inched up 0.2 points in January to 63.6 after gaining 2 points in December and 4 points in November. The level of the ISM index was slightly lower than expected by market players after economists revised up their forecasts for the ISM index last Friday after the NAPM-Chicago surged for the month. The actual ISM index might be a bit disappointing to equity investors who were looking for a higher number. However, there is no question that the ISM survey reveals a lot of strength in the manufacturing sector in January.
6-Month Bill Treasury Rate 1.000%
(Econoday.com) - The ISM manufacturing index inched up 0.2 points in January to 63.6 after gaining 2 points in December and 4 points in November. The level of the ISM index was slightly lower than expected by market players after economists revised up their forecasts for the ISM index last Friday after the NAPM-Chicago surged for the month. The actual ISM index might be a bit disappointing to equity investors who were looking for a higher number. However, there is no question that the ISM survey reveals a lot of strength in the manufacturing sector in January.
3-Month Bill Treasury Rate 0.920%
(Econoday.com) - The 3-month bill rate rose to its highest level in two months, reflecting the Federal Reserve's statement last week that has incrementally heightened the risk of less accommodative monetary policy. At 0.920 percent, the rate on the 3-month bill is 3 basis points higher than last week. At 2.30 vs. 1.86, the bid-to-cover was firm especially given the slightly larger size of this week's auction ($19 billion vs. $18 billion last week).
04.02.02 19:12 #