Econ data: 09 week 20
Overall
- US Apr Core CPI up +0.3% from up 0.2% in Mar (better than expect, +0.1%)
- US Apr CPI up +0.0% from down -0.1% in Mar (in line, +0.0%)
- US Apr Core PPI up +0.1% from 0.0% in Mar (in line, +0.1%)
- US Apr PPI up +0.3% from -1.2% in Mar (better, +0.2%)
- Glad to see the improvement from Mar, it reduce the market's worry about deflation.
House market
- n/a
- Focus will be on next week's housing starts and building premits. I don't think there will be a huge improvement from Mar. As long as the results do not get worse compare to Mar, then it is good news
Job market
- US 05/09 initial jobless claim up to 637k from 605k last week (worse, 610k)
- A light data week on job market;
Retail market
- US Apr Retail sales down -0.4% from down -1.3% in Mar (worse, 0%)
- US Apr Retail sales ex auto down -0.5% from down -1.2% in Mar (worse, +0.2%)
- US Mar Business inventory down -1.0% from down -1.4% in Mar (worse, -1.1%)
- US Apr Industry production down -0.5% from down -1.7% in Mar (better, -0.6%)
- Not good compare to trending nor to expectation, but good improvement compare to Mar
Others
- HKG 1q09 GDP down -7.8%, in line with expectation
- Data should show improvement in 2q (even though it may still not having a positive figure)
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