The Great revival looks not-so-great in numbers
Orders placed at American factories fell faster than expected in April. This was shown on Friday by figures from the US government.
Factory orders fell by 0.6 percent on a monthly basis, compared to a 1.4 percent increase in March. An increase of 1.1 per cent was previously expected in March.
Economists expected a decrease of 0.2 percent for the month of April.
Excluding defense, there was an unchanged order level in April. Excluding transport there was an increase of 0.5 percent.
The US labor market showed a just good enough rise in May. This is what market analyst Philip Marey of Rabobank said to ABM Financial News on Friday.
“With an increase of 559,000, there is still no taper moment and the rest on the stock markets remains intact,” says Marey. “Only when unemployment moves towards 4.5 percent will the Federal Reserve prepare the market for tightening,” says Marey. The expected growth was 671,000 jobs.
The unemployment rate was 5.8% in May. That was 6.1 percent a month earlier.
Marey saw a slight contraction in the various sectors such as construction and the growth in the hospitality industry in May was less strong than in April.
On Friday, shortly after publication of the report, the euro recorded 0.2 percent higher at $ 1,2153.