US Continuing Claims Rise, 1Q GDP Growth at 1.4%
I wish I had news for you on the jobless claims front, but it's basically unchanged at 233,000, continuing claims 1,839,000. That's up from the previously reported 1828, although we'll see what the revisions are. GDP comes in on the forecast, 1.4%, up a 10th. Personal consumption did not move. It goes down actually 1.5% from 2%. The forecast was for 2%, which is kind of a little bit odd. Durable goods orders up 110th of a percent and the capital goods orders non defense X air, which is what everybody cares about in the economics profession down 6/10 of 8%. The forecast was for a 110th of a percent gain. So that's going to be a little bit worrying to those who are considering what second quarter GDP will be. These are main numbers for durable goods. The initial jobless claims revisions 239,000. So it's a drop of 6000, but doesn't really get us out of this range that we were in and. Continuing claims revised down to one million 821, so that's an increase of 18,000 there, which is not a huge amount considering we're talking 1.8 million. So overall, there isn't much to say about these numbers. Core price PCEQ over Q 3.7%, up from 3.6% that was forecast by analysts who noted that since the first quarter we have seen some revisions to the numbers and so this probably doesn't have anything. Any forecasting ability for tomorrow's PCE?