Browsing: Economy

Economy

Existing-home sales decreased 0.4 percent to a seasonally adjusted annual rate of 5.45 million in May, according to the National Association of Realtors (NAR). This followed a 2.5 percent decline in April. Sales are 3.0 percent below the May 2017 level. “Closings were down in a majority of the country last month and declined on

Economy

Housing starts increased to a seasonally adjusted annual rate of 1.350 million in May, according to the U.S. Department of Commerce. The figure was 5.0 percent above the April rate of 1.286 million and 20.3 percent higher than the May 2017 rate. Single-family home starts rose 18.3 percent from last month. Multifamily surged 11.3 percent since April

Economy

Industrial production fell 0.1 percent in May after an upwardly revised 0.9 percent increase in April, according to the Federal Reserve. Capacity utilization nudged down to 77.9 percent in May, but remains the second highest level in three years. Manufacturing output declined 0.7 percent after remaining unchanged last month. Production of durable goods decreased 1.0

Economy

There were $502.0 billion in retail and food service sales in May, up 0.8 percent from the previous month and 5.9 percent from May 2017, according to the U.S. Census Bureau. April’s number was upwardly revised to reflect a 0.4 percent increase. Core retail sales – excluding automobiles and parts – rose 0.9 percent. Year-over-year

Economy

At its meeting today, the Federal Open Market Committee (FOMC) unanimously voted to raise the target range for the federal funds rate to 1.75 to 2.0 percent. It was the second hike this year. The committee signaled two more increases this year as inflation rises and the unemployment rate drifts lower. Committee members expect “that

Economy

Producer prices increased 0.5 percent in May, seasonally adjusted, after rising 0.1 percent in April, according to the U.S. Bureau of Labor Statistics. Producer prices rose 3.1 percent for the twelve months ended May 2017, the largest annual gain since January 2012. The index for final demand goods surged 1.0 percent in May, after remaining

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