UPDATED -- U.S. industrial production rose 0.6% in May after having declined 0.3% in April, according to a new Federal Reserve report. The decrease in April was previously reported to have been 0.6%.
Read More →Prices at the wholesale level declined in May for the first time in three months, according to new U.S. Labor Department figures, while a separate report shows consumer sentiment fell slightly but is relatively stable.
Read More →Retail sales in the U.S. increased for the fourth consecutive month during May increasing 0.3% from the month before and 4.3% from the level the same time a year earlier.
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The amount of freight carried by the for-hire transportation industry rose 0.4% in April from March, increasing for the third consecutive month, according to the U.S. Department of Transportation’s Freight Transportation Services Index released Wednesday.
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North American freight shipments and expenditures continued to buck the historic trend and increased again in May, according to the latest Cass Freight Index.
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Four consecutive +200k monthly non-farm payroll reports is impressive, but it will take more than headline improvement to thrust the economy above current trend growth. Employment gains thus far have not yet led to wage pressures. Without adequate income growth, the consumer remains limited in spending capacity, which is restraining near-term growth prospects.
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New orders for manufactured goods were up for the third consecutive month in April, rising 0.7% to $499.8 billion. April was at the highest level since the series was first published on a NAICS basis in 1992 and followed a 1.5 percent March increase.
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Manufacturing activity expanded throughout the nation with a notable improvement along the East Coast. Growth was particularly strong for several Distracts related to motor vehicles, aerospace, and metals. Both non-residential construction activity and commercial real estate markets were generally steady to stronger since the last report.
Read More →The 0.1% drop in personal consumption expenditures follows an upwardly revised 1% increase during March, which was the largest gain since August 2009 and is the first decline in a year.
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UPDATED -- The broadest measure of American economic health shows it throttled back in the first quarter of the year, according to the U.S. Commerce Department.
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