John Buckingham was quoted in MarketWatch saying “The number of first-time filings for unemployment benefits, at 274,000 for the last week in April, is well below the 361,000 average over the past 50 years”, points out John Buckingham of The Prudent Speculator, an investment newsletter.
The Institute for Supply Management’s (ISM) non-manufacturing index (NMI) rose to 55.7 in April, up from 54.5 in March, notes Buckingham. That equates to 2.7% gross domestic product growth, according to ISM. And while ISM’s purchasing manufacturing index (PMI) dropped to 50.8 for April, down from 51.8 in March, that still equates to 2.4% GDP growth, according to ISM.
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