Personal income increased 0.5% at a monthly rate in March; disposable personal income increased 0.5%; and personal consumption expenditures increased 0.7%.
News in end use
US Private Sector Job Cuts Slow in April
US-based employers announced 105,441 job cuts in April, down 62% from the 275,240 job cuts announced in March, CG&C reported.
US Weekly Initial Jobless Claims Increase in the Week Ending April 26
The advance figure for seasonally adjusted initial unemployment claims was 241,000, an increase of 18,000 from the previous week’s revised total.
US Real GDP Declines at an Annual Rate of 0.3% in Q1, BEA Reports in Its “Advance” Estimate
Real GDP declined at an annual rate of 0.3% in Q1, the BEA reported in its “advance” estimate. This follows an increase of 2.4% in 2024Q4.
US Pending Home Sales Rise 6.1% in March
The NAR Pending Homes Sales Index increased 6.1% to a reading of 76.5 in March. Year-over-year, sales were down 0.6%.
US Mortgage Applications Decline in the Week Ending April 25
Mortgage loan application volume declined 4.2% on a seasonally adjusted basis from one week earlier, MBA reported.
Canadian GDP Declines in February, Offsetting January’s Gains
Canadian real GDP contracted 0.2% in February, partly offsetting January’s 0.4% increase.
ADP Reports Private Sector Employment and Compensation Both Increased in April
Private sector employment increased by 62,000 jobs in April, down from a 155,000 gain in March, ADP reported.
Fannie Mae Adjusts Housing Activity Forecast
The ESR Group expects new single-family construction to total approximately 964,000 units this year.
US Consumer Confidence Plunges in April, Extending Five-Month Decline
The Conference Board Consumer Confidence Index declined 7.9 points to a reading of 86.0, the lowest level since the onset of the pandemic.