We Just Got a Bunch of Disappointing U.S. Economic Data

Still waiting for the rebound

El-Erian: Fed Feels U.S. Economy Is OK, Not Great

Fresh data out today on the U.S. economy throws cold water on hopes for a strong spring economic rebound.

Here's a roundup of some key datapoints we got today.

One number that did come in solidly was the latest reading of Leading Economic Indicators, which rose 0.7% in April vs. expectations of 0.3%. That being said, the number doesn't give us much new information. In an email, Neal Dutta of Renaissance Macro explains, "Most of the components of the LEI have already been released so it provides little new information for the markets. We already knew that in April, claims fell, permits rose, equities rallied, and ISM new orders picked up."

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