– U.S. workers saw a slightly smaller than expected increase in income in May, according to figures released Monday by the Commerce Department, with the report also showing that personal spending was nearly unchanged.
Personal income increased 0.3 percent, or $36.2 billion, in May, slightly less than the 0.4 percent increase predicted by most economists.
Furthermore, April figures, which had initially shown a 0.4 percent increase in personal income, were downwardly revised to show a 0.3 percent increase.
At the same time, consumer spending increased by $4.6 billion, or less than 0.1 percent, in May.
Read more…
May 7, 2011 (Allthingsforex.com) – The week ahead will bring the main gauges of inflationary pressures from some of the world’s largest economies, but traders will pay an even closer attention to the latest news from Greece, as anxiety levels have risen on recent reports that the debt-ridden country may be considering an exit from the Euro-zone and the euro.
In preparation for the new trading week, here is the outlook for the Top 10 spotlight economic events that will move the markets around the globe.
1. CHF- Swiss CPI- Consumer Price Index, the main measure of inflation preferred by the Swiss National Bank, Tues., May 10, 3:15 am, ET.
Inflation in Switzerland is expected to register a smaller increase by 0.5% m/m in April, compared with the unexpected spike by 0.6% m/m in March from 0.2% m/m in February. With the Read more…
Prices for single-family homes rose half a percent in May according to the latest Standard & Poor’s/Case Shiller home index survey. The results, based on an examination of home prices in twenty US cities, showed a greater-than-expected 0.2 percent increase.
“While May’s report on its own looks somewhat positive, a broader look at home price levels over the past year still does not indicate that the housing market is in any form of sustained recovery,” David M. Blitzer, chairman of the Index Committee at Standard & Poor’s, said in a statement.
