May 31, 2019

Consumer Confidence as measured by the Conference Board was higher in May for both the present situation and future expectati ons. The second read on first quarter GDP was released last week and came in slightly lower at 3.1% versus the initial report of 3.2%. Inflation as measured by the core PCE, the Fed's preferred inflation metric, came in at 1.6% year over year for April. Still below their target rate of 2.0%.
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May 24, 2019

Home sales in April for both new and existing homes came in below expectations and were down 6.9% and 0.4% month over month respectfully. A report by the firm Markit showed manufacturing slowed in May with a reading of 50.6, the lowest print for this number since May 2016. A reading above 50 means the manufacturing sector is still expanding but at much slower levels than this time last year. On a more positive note, initial jobless claims continue to remain strong coming in at 211,000 applicants for the week ending May 18. These numbers bode well for continued strength in job creation going forward.
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