US: Decent economic releases suggest economy recovering at moderate pace – ANZ
|The research team at ANZ points out that US data released overnight was largely in line with estimates, including revisions to previous releases, suggesting the economy continues to expand at a moderate pace with the labour market continuing to tighten.
Key Quotes
“Non-farm productivity fell 0.6% in Q1, underscoring the weakness in the first quarter, while unit labour costs rose 3.0%, from 1.3% in Q4. Weekly labour indicators continue to point towards a tightening of the labour market with initial jobless claims falling to 238k and continuing claims at 1964k. Factory orders were up 0.2% while durable goods orders rose 0.9%.”
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