Archive for 2015

  • ADP & the U.S. Trade Deficit

    Big miss in ADP report.   The April ADP report showed payrolls grew by 169K vs. 200K estimate.  The March report was also revised lower from 189K to 175K.   The collapse of oil prices and the strength of the dollar certainly have weighed heavily on the energy and manufacturing sectors.  The question is will we see a rebound with oil recovering to over $60 a barrel.

    Tomorrow weekly initial jobless claims will be the next piece of the U.S’s employment picture before Fridays non farm payroll number from the BLS.


    The U.S. March Trade deficit widened even more than the estimate of $35.4bn to $41.7bn. The $51.4bn deficit is the largest gap since October of 2008.  Economist expected this number to expand  but not 43% higher than the February imbalance.  This number will likely further shrink the  anemic first quarter U.S. GDP.