Haver Resources - Haver Products

Jun 05

UK services sector remained robust in May

Today’s estimates of the UK services PMI suggest that business activity continued to expand during May, thanks to a strong rise in output and incoming new orders. The key details were as follows: • The S&P Global / CIPS UK Services PMI Business Activity Index was 55.2 in May, a...

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June 5, 2023
Kritika Jain

Jun 02

U.S. Jobs Growth Improves in May but Unemployment Rate Rises; Earnings Gain Slips

Summary Surprising payroll gain follows upwardly revised estimates. Earnings growth slips. Jobless rate increases to seven-month high. Nonfarm payrolls increased 339,000 last month (2.6% y/y) after rising 294,000 in April and 217,000 in March, revised from 253,000 and 165,000, respectively. Expectations had been for a 193,000 rise in the Action...

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June 2, 2023
Thomas J. Moeller

Jun 01

UK: Weaker messages from the housing market and the manufacturing sector

Today’s data from the UK covering the housing market and the manufacturing sector suggest the economy is rolling over. The good news is that inflationary pressures appear to be easing at the same time. The key elements of note from these data releases were as follows: • The Nationwide house...

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June 1, 2023
Kritika Jain

May 31

U.S. JOLTS Job Openings Rise in April after 3 Months of Declines

Summary Openings were mixed by industry with biggest rate increase transportation & trade. Hires up after 2 monthly declines. Layoffs down after spike in March. The number of job openings rose 3.7% in April to 10.103 million (+14.1% y/y) from 9.745 million in March, revised up from 9.590 million reported...

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May 31, 2023
Carol Stone, CBE

May 26

UK Retail Sales Volume Rebound in April

UK retail sales grew a little more than expected in April. The broader trend also suggests a slightly brighter picture for consumer spending, notwithstanding still-intense cost of living pressures from high inflation. The main points from this report were as follows – • Retail sales volumes rose by 0.5% m/m...

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May 26, 2023
Kritika Jain

May 25

U.S. GDP Growth Revised Up in Q1’23; Profits Decline

Summary Inventories continue to subtract substantially from growth. Consumer spending stays strong as auto buying surges; business investment slows. Price index is unrevised & firm. After-tax profitability declines again. Real GDP grew 1.3% at an annual rate (1.6% y/y) during Q1'23 following a 2.6% Q4 rise. The figure was increased...

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May 25, 2023
Thomas J. Moeller

May 24

Mortgage Loan Applications Continue to Fall

Summary Purchase & refinance applications drop for second week. Effective interest rate increases again. Average loan size improves slightly. Mortgage loan applications fell 4.6% (-35.0% y/y) in the week ended May 19 after declining 5.7% in the prior week. Applications were at the lowest level since the first week of...

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May 24, 2023
Thomas J. Moeller

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