1
ISM Non-Manufacturing Index decreased to 56.1% in March
The March ISM Non-manufacturing index was at 56.1%, down from 59.7% in
February. The employment index increased to 55.9%, from 55.2%. Note: Above
50 indicates expansion, below 50 contraction.
From the Institute for Supply Management: March 2019 Non-Manufacturing ISM
Report On Business®
Economic activity in the non-manufacturing sector grew in March for the
110th consecutive month, say the nation’s purchasing and supply executives
in the latest Non-Manufacturing ISM® Report On Business®.
The report was issued today by Anthony Nieves, CPSM, C.P.M., A.P.P., CFPM,
Chair of the Instit... more »
It is what is called a trailing indicator.
2
ADP: Private Employment increased 129,000 in March
From ADP:
*Private sector employment increased by 129,000 jobs* from February to
March according to the March ADP National Employment Report®. ... The
report, which is derived from ADP’s actual payroll data, measures the
change in total nonfarm private employment each month on a
seasonally-adjusted basis.
...
“*March posted the slowest employment increase in 18 months*,” said Ahu
Yildirmaz, vice president and co-head of the ADP Research Institute.
“Although some service sectors showed continued strength, we saw weakness
in the goods producing sector.”
Mark Zandi, chief economist ... more »
Trailing indicators look back at what was.
3
MBA: Mortgage Applications Increased Sharply in Latest Weekly Survey
From the MBA: Mortgage Applications Increase in Latest MBA Weekly Survey
Mortgage applications increased 18.6 percent from one week earlier,
according to data from the Mortgage Bankers Association’s (MBA) Weekly
Mortgage Applications Survey for the week ending March 29, 2019.
... The Refinance Index increased 39 percent from the previous week, and
was at its highest level since January 2016. *The seasonally adjusted
Purchase Index increased 3 percent from one week earlier*. The unadjusted
Purchase Index increased 4 percent compared with the previous week and was *10
percent higher t... more »
zero is a small number.
4
Trump’s Takeover of the Republican Party Is Almost Complete
The Trump campaign has helped install allies atop the most significant
state parties, and has urged them to discourage conservative criticism of
the president.
Yes.
5
The Argument For Capitalism
It is often worth stating an ideology’s argument in pure form. Let’s do
that for capitalism, not because we necessarily agree, but because
understanding why people believe in an ideology is important. If someone
buys something it is because they want or need it. Giving people what they
want or need is a good thing. […]
Point.
6
On Politics: Trump Backs Off Health Care Fight
NYT > Politics - 8 hours ago
President Trump retreated on plans to introduce a Republican replacement
for the Affordable Care Act, all but ensuring that health care would be
central to the 2020 campaign.
"The president again lashed out at local lawmakers in Puerto Rico, which
was devastated by a hurricane in September 2017. He was reacting after
the Senate blocked billions of dollars in disaster aid for Midwestern
states, in part because Democrats said a proposed $600 million in nutritional assistance to Puerto Rico fell short of its needs."
7
Biden’s Tactile Politics Threaten His Return in the #MeToo Era
In a political career that stretches 50 years, Joseph R. Biden Jr. has been
a master of an in-your-space intimacy that is proving to be a liability.
He knows better.
8
Scrutinizing White House Security Clearances, House Panel Subpoenas Ex-Official
After a whistle-blower spoke out, the Committee on Oversight and Reform
voted to subpoena Carl Kline, the former head of the White House’s
personnel security division.
Trump teases.
9
Meet Lori Lightfoot, Chicago’s New Mayor
NYT > Politics - 12 hours ago
Ms. Lightfoot, a 56-year-old former federal prosecutor who has never held
elected office, made history in Chicago.
Trust.
10
With Trump, NATO Chief Tries to Navigate Spending Minefields
Jens Stoltenberg is the European leader who has shown the most deft hand
with President Trump. But his credit of the president for spending
increases has annoyed fellow European officials.
Mercantile economics.
11
House Democrats Punt on Budget Resolution, Turning Instead to Spending Increases
Faced with division in their caucus, House Democrats effectively opted out
of outlining their own budget priorities and countering the proposal the
Trump administration released last month.
Proper.
12
Trump Vows to Close Border, Even if It Hurts the Economy
“Security is more important to me than trade,” the president declared,
while advisers sought to limit any economic damage from the move.
Yes.
13
Wednesday: ADP Employment, ISM non-Mfg Survey
Wednesday:
• At 7:00 AM ET, The Mortgage Bankers Association (MBA) will release the
results for the *mortgage purchase applications index*.
• At 8:15 AM, The *ADP Employment Report* for March. This report is for
private payrolls only (no government). The consensus is for 160,000 payroll
jobs added in March, down from 183,000 added in February.
• At 10:00 AM, the *ISM non-Manufacturing Index* for March. The consensus
is for a reading of 58.0, down from 59.7.
14
Boeing Whistle-Blower Claims to Be Investigated by Senate Committee
The chairman of the commerce committee sent a letter to the F.A.A. asking
about claims that its safety inspectors were not properly trained or
certified.
Boeing goofed.
15
Trump Retreats on Health Care After McConnell Warns It Won’t Happen
President Trump had promised Republicans would replace the Affordable Care
Act with a better, cheaper health law. Then the Senate majority leader told
him that would not be happening.
Romney care.
16
Nonfiction: Why Are We Feeling So Bad When Life Is So Good? Two Books Want Us to Accentuate the Positive
“The Right Side of History,” by Ben Shapiro, and “Clear and Present
Safety,” by Michael A. Cohen and Micah Zenko, declare current pessimism is
totally overblown.
I doubt.
17
Philly Fed: State Coincident Indexes increased in 38 states in January
From the Philly Fed:
The Federal Reserve Bank of Philadelphia has released the coincident
indexes for the 50 states for January 2019. Over the past three months, the
indexes increased in 44 states, decreased in one state, and remained stable
in five, for a three-month diffusion index of 86. *In the past month, the
indexes increased in 38 states, decreased in seven states, and remained
stable in five*, for a one-month diffusion index of 62.
emphasis added
Note: These are coincident indexes constructed from state employment data.
An explanation from the Philly Fed:
The coincident i... more »
18
Trump Retreats on Health Care, Saying Republican Plan Will Appear Only After the 2020 Election
President Trump’s new timetable delays one of his biggest campaign promises
and ties it to Republicans taking back the House.
19
Ex-National Security Officials Sue to Limit Censorship of Their Books
Millions of former officials must submit their writings to a prepublication
review system, which they argue is unconstitutional.
20
Bernie Sanders Raised $18 Million in 6 Weeks, His 2020 Campaign Says
The announcement puts Mr. Sanders ahead of the other Democratic presidential candidates who have announced their first-quarter fund-raising numbers.||
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