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4 May 2016
US: ADP employment and trade balance in the limelight - BBH
Research Team at BBH, suggests that in addition to the ADP report, the US releases the March trade balance, which may help economists begin thinking about revisions to the 0.5% Q1 GDP.
Key Quotes
“The same applies to factory orders and durable goods orders. The March data are more important for economists than investors. A good ADP report, coupled with the gains in auto sales, suggests the US economy is strengthening in Q2.
The disappointing manufacturing ISM earlier this week showed a broader even if not a quicker recovery. Both Markit and ISM report their service sector readings today for April. Both are expected to have ticked up from March.”
Key Quotes
“The same applies to factory orders and durable goods orders. The March data are more important for economists than investors. A good ADP report, coupled with the gains in auto sales, suggests the US economy is strengthening in Q2.
The disappointing manufacturing ISM earlier this week showed a broader even if not a quicker recovery. Both Markit and ISM report their service sector readings today for April. Both are expected to have ticked up from March.”