Economic activity in the manufacturing sector expanded in May for the fifth consecutive month, according to the Institute for Supply Management. The Manufacturing PMI registered 55.9% in May, 1.3 percentage points higher than in April. A reading above 47.5%, over a period of time, generally indicates an expansion of the overall economy.
Sixteen manufacturing industries reported growth in May and one reported contraction.
Construction spending in April was estimated at a seasonally adjusted annual rate of $2,172.4 billion, or 0.3 % above the revised March estimate of $2,164.5 billion, the U.S. Census Bureau reported.
The SEC is proposing to rescind “overly burdensome and costly rules” that require companies to provide certain climate-related information in their registration statements and annual reports.
The IRS has released the inflation-adjusted contribution limits and high-deductible health plan requirements for 2027.
ABA that while it supports a proposed rule to provide 401(k) plan managers a safe harbor for investing in a broader range of alternative assets, it has key concerns about the proposal’s consistency and workability.
ABA added six banks to the ABA Nasdaq Community Bank Index (ABAQ), effective June 1. The index includes 222 community banks with $239.8 billion in market capitalization.
When financial institutions get the personalization formula right, customer satisfaction scores rise.
