imported post
Construction is down....
[align=left]
Actual
-0.3%
Consensus
0.5%
Consensus Range
0.2% to 1.1%
[align=left]
Market Consensus Before Announcement
Construction spending fell 0.9 percent in May. While housing starts are not declining, neither are they showing strong signs of acceleration. Thus, they are likely to add less and less in upcoming months to ongoing construction expenditures.
Construction spending Consensus Forecast for June 05: 0.5 percent
Range: 0.2 to 1.1 percent
class=econo-sectiontitleTrends
class=econo-chartcaptionConstruction spending has moderated significantly over the past year despite strenth in the housing market. Residential construction is not growing as rapidly as it did even though current levels are high. Nonresidential construction has begun to improve, but gains are still modest.[/align]
But consumer spending is up in June.....wonder what from.....[/align]
[align=left]
Actual
0.9%
class=econo-sectiontitleHighlights
ICSC-UBS's weekly chain store index shot up in the July 30 week as hot weather drove sales of summer merchandise. ICSC-UBS's index jumped 0.9% in the week to a year-on-year pace of 4.9%, its strongest rate in a year. But the report noted the weather dampened sales of back-to-school merchandise, which are just beginning to be stocked on store shelves. On Thursday, chain stores will post their results. [/align]
[align=left]
Actual
0.5%
Consensus
0.4%
Consensus Range
0.2% to 0.5%
Consumer Spending, M/M change
Actual
0.8%
Consensus
0.8%
Consensus Range
0.6% to 1.1%
[align=left]
Market Consensus Before Announcement
Personal income increased 0.2 percent in May. June gains could be equally moderate since nonfarm payrolls inched up modestly, hourly earnings grew at the same pace as in May, and the average workweek was unchanged. Personal consumption expenditures were unchanged in May. Retail sales surged in June in part on gains in motor vehicle sales - and this points to faster growth in personal consumption expenditures as well.
Personal income Consensus Forecast for June 05: 0.4 percent
Range: 0.2 to 0.5 percent
Personal consumption expenditures Consensus Forecast for June 05: 0.8 percent
Range: 0.6 to 1.1 percent
class=econo-sectiontitleTrends
class=econo-chartcaptionChanges in taxes or social security cost of living adjustments can cause some sharp variations in monthly disposable income growth. However, on the whole, monthly changes in disposable income fluctuate less than monthly changes in personal consumption expenditures.
class=econo-chartcaptionMonthly changes in personal consumption expenditures are usually skewed by large changes in spending on durable goods. Spending on nondurable goods and services tend to be less volatile from one month to the next. [/align]
GM problems go further than their medical expenses....read this[/align]
What gets my goat is I took my car in for a problem, it turns out to be a failed computer.....costs, 400$ plus the $45 towing charge to get it there, heck I even had to tell the technician after he tested all the sensors (they were in good workingorder)that it was the cars computer........its a Tahoe, a GM product, now if I had that simple software that GM has running their cars (it isn't that difficult to use, heck if I had the codes I could write a program for it in a week) I could have figured it out myself....maybe if GM would make it available as a product support sales product for a reasonable price designed for use on a laptop with free data updates off the web and so forth, more people would buy GM....they were famous in the past for an auto that was CHEAP to fix......but today, every GM car they sell today have high maintenance costs as if you owned a Cadillac!!! Even the computer the technician is using is nothing but a simple computer that they want $3000 for......what an overvalued product......a $700 laptop has far more capability.....
Guess the general public today just ain't smart enough to design and build or maintain cars.....hmmmmm...wonder where them GM engineers come from.....????
:dude:
.....(of course they may not care:zz).
