Economic Updates
Keep up to date on the global economy and its impact on markets.
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Economic Update for June 10, 2019
Economy
- The Markit Composite PMI Output Index slipped to 50.9 in May from 53.0 in April.
- The trade deficit declined in April, according to the Census Bureau.
- Factory orders decreased 0.8% in April, the Census Bureau noted.
- Durable goods orders fell 2.1% in April, the Census Bureau stated.
Employment
- For the week ended June 1, 2019, initial jobless claims remained unchanged from the previous week at 218,000, according to the Labor Department.
- The U.S. added 75,000 jobs in May and the unemployment rate remained unchanged at 3.6%, the Bureau of Labor Statistics reported.
Profits
- As of May 31, 2019, of the 490 S&P 500 Index companies reporting first-quarter earnings, 357 — or 72.9% — beat analysts’ estimates, according to S&P Dow Jones Indices.
Emotion
- Chief executive officers are “highly confident” in the growth prospects in domestic and global economies over the next three years, according to a KPMG survey.