Few Surprises in a Slow Data Week
• There were few surprises in this week’s light schedule of economic releases. The monthly JOLTs employment figures showed hiring picking up modestly, but voluntary separations remain near recession lows, signaling a lack of confidence in the job market.
• Consumer credit rose much less than expected in March, which raises new questions about the future course of consumer spending. Part of the slowdown may have also been in student loans.
• Wholesale inventories rose 0.4 percent in March, as sales tumbled 1.6 percent.