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The Economy

May 19, 2015 | Weekly Commentary

Last week positive economic reports and negative economic reports were equally balanced.


  1. European Union Gross Domestic Product rose 1% year over year.
  2. National Federation of Independent Businesses small business optimism index rose to 96.9
  3. Initial jobless claims came in at 264k, the 4-week moving average is the lowest it has been since April 2000.
  4. Empire state manufacturing survey came in at 3.09, below expectations but up from the -1.09 prior.


  1. U.S. Industrial Production fell 0.3% month over month vs expectations of no change.
  2. U.S. Consumer Confidence fell to 88.6, below the expectations of 95.9
  3. U.S. Retail sales ex-auto and gas rose 0.2% month over month, below the 0.6% expected rise.
  4. Mortgage Bankers Association purchase applications fell 0.2% week over week, the refinance index fell 6%.

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