Week in Review
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Started by TimNew - July 8, 2022, 9:38 a.m.

Factory OrdersMay-220.301.60B-
PMI Svc_M/MJun-2251.6052.70C+
ISM Svc_M/MJun-2255.9055.30C
Job Openings (JOLTS)_M/MMay-2211.400M11.254MC
Jobless Claims_W/W7/2/2022231K235KC
Employment Situation_M/MJun-22390K372KC+

A lite week for data, but any week with Employment is worth a look.

Jobless Claims edged up slighty in what is becoming a trend.  Still historically low.

Services have moderated but ISM remains in a respectable range.

Job Opening have dropped a bit more but still remain in territory previously unseen. Typically,  6-7 million is considered very strong.

In a real suprise, to me at least, Factory Orders showed a very strong 1.6% jump.

The Employment Situation was stronger than forecast. 372K is a decent number. Private Sector showed a gain of 381 indicating contraction in public sector.  Mfg showed a gain of 28K vs 18k last month. Very possibly related to the jump in Factory Orders.

Not enough data to form any real conclusions, but on the strength of Employment and Factory Orders,  I'll go with a C+.

By metmike - July 8, 2022, 11:40 a.m.
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Thanks Tim!
 A bit better than expected.

By TimNew - July 8, 2022, 9:33 p.m.
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It almost appears that Employent and Factories don't realilze we are in a recession.. :-)

Interestng weeks/months ahead.

By TimNew - July 8, 2022, 9:33 p.m.
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