Industrial production fell 0.5% in June. Total industrial production in June was 0.4% its year-earlier level.
Manufacturing output decreased 0.3% in June. The indexes for nondurable manufacturing and durable manufacturing decreased 0.6% and 0.1%, respectively, the index for other manufacturing (publishing and logging) fell 0.2%. The index for mining fell 0.2%. While the index for utilities dropped 2.6% in June.
Read the Fed release.
By Jeff Huther and Alison Touhey ABA Data Bank A contributing factor to the bank failures in spring 2023 was that the failing banks had inadequately prepared for using the Fed’s discount window. This led some commentators to...
Deposit data currently collected in call reports is not a good indicator of risk and may encourage examiners, investors and other stakeholders to focus too narrowly on single data points when assessing a bank’s financial condition, ABA said.
A federal judge in Texas refused a CFPB request to lift a preliminary injunction blocking the bureau’s credit card late fee rule from taking effect and move the lawsuit seeking to overturn the rule to Washington, D.C.
Consumer credit increased at a seasonally adjusted annual rate of 4.5% in October. Total outstanding credit increased to $5.113 trillion during the month.
The U.S. banking system remains resilient but there are pockets of potential vulnerability that need continued monitoring, such as in the areas of commercial real estate, third-party relationships and cybersecurity, the Financial Stability Oversight Council said.
U.S. consumers plan to spend an average of $677 on holiday gifts this holiday season, up 3.4% from $654 last year.
