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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This year could be a “banner year” for bank mergers and acquisitions, with improving economic conditions, enhanced net interest margins and the possibility of tax cuts, according to a recent analysis by the law firm Hunton Andrews Kurth.
Housing starts in December increased to a seasonally adjusted annual rate of 1.499 million, according to the U.S. Department of Commerce. This is 15.8% above the revised November estimate of 1.294 million but is 4.4% below the December...
Industrial production increased 0.9% in December after moving up 0.2% in November. Manufacturing output rose 0.6% after gaining 0.4% the previous month.
During a confirmation hearing, Bessent called for less regulation on banks and criticized credit card companies, although he stopped short of endorsing a campaign pledge by President-elect Trump to cap credit card interest rates at 10%.
Builder confidence in the market for single-family homes in January was 47, up from 46 the previous month, according to the National Association of Home Builders/Wells Fargo Housing Market Index.
Business inventories in November 2024 came in at $2.59 trillion, up 0.1% from the month prior and up 2.6% from a year ago, the Commerce Department said.
