Industrial production increased 0.8% in May. Total industrial production in May was 16.3% higher than its year-earlier level but remains 1.4% below pre-pandemic levels.
Manufacturing output increased 0.9% in May. Durable manufacturing increased 1.0%, while nondurable manufacturing increased 0.8%. The output of utilities rose 0.2% from April. Mining production increased 1.2% in May.
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The rate for a 30-year fixed-rate mortgage was 6.81% this week. The rate for a 15-year fixed-rate mortgage was 5.94%.
More than one in three Americans are not confident they have enough savings to cover unexpected bills, according to a new survey by TD Bank.
Existing home sales declined 5.9% in March to a seasonally adjusted annual rate of 4.02 million, the National Association of Realtors said. Sales were down 2.4% from a year ago.
New orders for manufactured durable goods increased $26.6 billion or 9.2% in March to $315.7 billion, the U.S. Census Bureau said in its most recent advance report.
New single-family homes sales rose to a seasonally adjusted annual rate of 724,000 according to the U.S. Census Bureau and HUD.
Economic activity was little changed since March, but uncertainty around international trade policy was pervasive across the 12 Federal Reserve districts, according to the Fed’s third Beige Book report of the year.
