Browsing: Economy

Economy

Producer prices rebounded in May, climbing 0.5 percent, seasonally adjusted, according to the U.S. Bureau of Labor Statistics, attributable to prices for final demand goods which rose 1.3 percent. This was the second monthly increase in the past six months. Producer prices fell 1.1 percent on a yearly basis.

Economy

There were $444.9 billion of retail and food services sales in May (after adjustment for seasonal variation and holiday and trading-day differences but not for price changes), according to the U.S. Census Bureau. This level represented an increase of 1.2 percent from the previous month, and 2.7 percent from May of last year.

Economy

Consumer credit increased at a seasonally adjusted annual rate (SAAR) of 7.3 percent in April to $3.38 trillion. Revolving credit rose at an annual rate of 11.6 percent (to $900 billion) and non-revolving credit increased at an annual rate of 5.8 percent ($2.49 trillion).

Economy

Total nonfarm payroll employment rose by 280,000 in May, up from last month’s revised estimate of 221,000. The unemployment rate rose slightly to 5.5 percent. The Federal Reserve has placed its full-employment estimate between 5 percent and 5.2 percent.

Economy

Employers announced plans to shed 41,034 workers from their payrolls in May, following the 61,582 planned job cuts announced in April, according to a report issued by Challenger, Gray & Christmas.

Economy

Overall economic activity expanded during the reporting period from early April to late May according to the fourth Federal Reserve Beige Book of 2015. While the pace of growth varied among districts, outlook among respondents were generally optimistic, with growth expected to continue at a modest to moderate pace in several districts.

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