Como se combate o populismo? "Com eleições", responde Fukuyama

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ECONOMIC REPORT: U.S. incomes, spending slow in May
By Rex Nutting, MarketWatch
Last Update: 8:31 AM ET June 30, 2005

WASHINGTON (MarketWatch) - U.S. consumer spending was flat in May as personal income growth also slowed, the Commerce Department said Thursday.

Nominal incomes increased 0.2% in May as wages increased just 0.1%, the slowest gain since June 2004. In April, incomes rose a downwardly revised 0.6%, compared with a 0.7% increase originally recorded.

Nominal spending was unchanged in May, the weakest spending since January.

Economists were expecting a stronger report, with incomes expected to grow 0.4% and spending to increase 0.1%.

Inflation remained under control. The personal consumption expenditure price index was unchanged, with the core PCE index, which excludes food and energy, up 0.2%.

The core PCE index has risen 1.6% year-on-year, up from 1.5% in April. It's near the middle of the Federal Reserve's comfort zone of 1% to 2%.

The Federal Open Market Committee is wrapping up a two-day meeting later Thursday. Analysts are sure the FOMC will raise short-term rates by a quarter percentage point to 3.25%, the ninth such hike since the FOMC began raising rates a year-ago.

After taxes and inflation are subtracted, real disposable incomes increased 0.1% in May, the third straight month of tepid income growth. Real disposable incomes are up 3.2% year-on-year.

Nominal income was weaker in May from nearly every source. Proprietors' income, which had been the fastest growing source, increased 0.4% in May after 0.7% in April. Income from assets increased 0.5%, the same as in April. Rental income fell 3.6%, while the growth of income from government transfers was cut in half to 0.5%.

Personal taxes increased 0.6% after a 2% gain in April.

Spending on services increased 0.6%, but spending on durable goods plunged 1.8% and spending on nondurable goods fell 0.4%.

Spending is up 3.4% year-on-year.

The personal savings rate improved to 0.6% of disposable income.


ECONOMIC REPORT: U.S. weekly jobless claims fall to 310,000
By Robert Schroeder, MarketWatch
Last Update: 8:48 AM ET June 30, 2005

WASHINGTON (MarketWatch) -- First-time filings for state unemployment benefits fell by 6,000 to a seasonally adjusted annual rate of 310,000 the week ending June 25, the Labor Department reported Thursday.

The number was lower than expected by economists surveyed by MarketWatch and the lowest since April 16.

The four-week moving average decreased by 10,250 to 323,500, while continuing jobless claims rose 4,000 to 2.6 million.

Economists polled by MarketWatch were expecting initial claims to come in at 325,000.

The four-week average smoothes out distortions caused by one-time events, such as weather, holidays and strikes.

The seasonally adjusted insured unemployment rate was 2.0% for the week ending June 18, unchanged from the prior week's unrevised rate of 2.0%.

Jobless benefits are generally available for 26 weeks to workers who lose their jobs through no fault of their own.

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8:30am 06/30/05 U.S. CONTINUING JOBLESS CLAIMS RISE 4,000 TO 2.6 MLN
8:30am 06/30/05 U.S. 4-WEEK AVG. JOBLESS CLAIMS FALL 10,250 TO 323,500
8:30am 06/30/05 U.S. WEEKLY JOBLESS CLAIMS LOWER THAN EXPECTED
8:30am 06/30/05 U.S. WEEKLY JOBLESS CLAIMS FALL 6,000 TO 310,000

8:30am 06/30/05 U.S. MAY REAL DISPOSABLE INCOMES RISE 0.1%
8:30am 06/30/05 U.S. MAY PERSONAL SAVINGS RATE RISES TO 0.6%
8:30am 06/30/05 U.S. APRIL SPENDING UNREVISED AT 0.6%
8:30am 06/30/05 U.S. APRIL INCOMES REVISED TO 0.6% VS. 0.7%
8:30am 06/30/05 U.S. MAY REAL SPENDING FLAT
8:30am 06/30/05 U.S. CORE PCE PRICE INDEX UP 1.6% Y-O-Y
8:30am 06/30/05 U.S. MAY CORE PCE PRICE INDEX UP 0.2%
8:30am 06/30/05 U.S. MAY CONSUMER SPENDING FLAT VS. 0.1% EXPECTED
8:30am 06/30/05 U.S. MAY PERSONAL INCOMES UP 0.2% VS. 0.4% EXPECTED