Newsbytes

N.Y. Fed Sees Rise in Credit Rejection Rates

Individuals who have applied for credit reported higher rejection rates in June than they reported in February, according to the Federal Reserve Bank of New York's latest Credit Access Survey released today, which gauges consumers' experiences and expectations regarding credit over the previous year.

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ABA Outlines Tax Reform Priorities in Letter to Sen. Hatch

As tax reform discussions continue on Capitol Hill and with legislation potentially moving in the coming months, ABA President and CEO Rob Nichols today shared the association’s views on tax reform in a letter to Senate Finance Committee Chairman Orrin Hatch (R-Utah).

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Industrial Production Rose 0.4% in June

Industrial production grew 0.4% in June after an upwardly revised 0.1% May increase, according to the Federal Reserve. May’s jump was the fifth consecutive month of growth Manufacturing output grew 0.2% in June after a 0.4% decline in May. Production of durable goods and nondurables both edged up 0.5% during the month. Capacity utilization for manufacturing increased by 0.1 percentage ...

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Retail Sales Slipped in June

There were $473.5 billion in retail and food service sales in June, down 0.2% from the previous month and up 2.8% from June 2016, according to the U.S. Census Bureau. Core retail sales – excluding automobiles and parts – also fell 0.2%. Year-over-year core sales increased 2.4%. Retail trade sales decreased 0.1% from May and are up 3.0% from last ...

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Consumer Prices Unchanged in June

The Consumer Price Index remained flat in June on a seasonally adjusted basis, according to U.S. Bureau of Labor Statistics. Over the last 12 months, the all-items index rose 1.6%. Prices for all items less food and energy, the “core CPI,” increased 0.1% in June, the same as in May. The index rose 1.7% for the 12 months ending in ...

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