ADP: May private job growth rose 9.4 percent from April to 178,000
Private-sector employment increased by 178,000 jobs in May, on a seasonally adjusted basis. This compares to 163,000 jobs last month and 202,000 jobs the same month of 2017.
First quarter GDP growth revised down to 2.2 percent in second estimate
Real gross domestic product (GDP) increased at an annual rate of 2.2 percent in the first quarter of 2018 according to the “second” estimate released by the Bureau of Economic Analysis. In the advance estimate, the increase was 2.3 percent. In the fourth quarter of 2017, real GDP increased 2.9 percent.
Case-Shiller: March home prices up 6.5 percent year-on-year, same as previous month
The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index reported a 6.5% annual gain in March, the same as the previous month. After seasonal adjustment, the National Index recorded a 0.4% month-over-month increase in March.
April durable goods orders dipped 1.7 percent due to decline in aviation
Although durable-goods orders fell 1.7% April, that decline was mostly due to falling orders for planes. Orders minus transportation rose 0.9%, for the third consecutive monthly gain.
Investor confidence dipped 12 points in May due to inflation pressures, more political instability
The Global Investor Confidence Index decreased to 103.5, down nearly 12 points from April’s revised reading of 115.3. After a strong consensus in risk-seeking appetite last month, global investors now have a more subdued willingness to allocate to risk.
May consumer sentiment dips slightly, but still well within recent trendline
Consumer sentiment slipped by less than an Index-point from April. Since Trump’s election, the Sentiment Index has meandered in a tight eight-point range from 93.4 to 101.4, with the small month-to-month variations indicating no emerging trend.