Friday, June 01, 2007

Trifecta of Good News

So we were treated to a trifecta of good news about the U.S. economy today.
The jobs number came in stronger than expected at 157,000, much improved over May. The ISM number came in at 55, the strongest in a year. And, as I stated again and again there is no inflation out there, and the numbers are starting to show with core inflation at 2.0% for the last 12 months, now in the Fed's "comfort zone"..........

Employers Nearly Double New Jobs in May, Hopeful Sign of Improving Economy

WASHINGTON (AP) -- The country's economic health may be improving. Employers nearly doubled the number of jobs they added to payrolls in May, allowing the unemployment rate to hold steady at a relatively low 4.5 percent. The fresh employment picture provided by the Labor Department on Friday showed job creation bounced back, with payrolls growing by 157,000 last month.....

.....The Institute for Supply Management's manufacturing index rose to 55 in May, the best showing in a year. A reading above 50 indicates growth, while a reading below 50 indicates contraction......

.......An inflation barometer -- excluding food and energy prices -- closely watched by the Fed moderated in April. The measure showed prices rising 2.0 percent over the last 12 months. That was down from a 2.1 percent increase for the 12 months ending in March.

By Jeannine Aversa, AP Economics Writer

Story Link Here

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