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July 14, 2017 - Final Demand Producer Prices in the U.S. were up 0.1% for June and up 2.0% for the 12 months ended June 30th. Consumer Prices were flat for June and up 1.6% for the year ended June 30th. Janet Yellen's testimony to Congress this week was somewhat focused on inflation. According to Ms. Yellen, the jury was still out as to whether or not the recent inflation pause was permanent or temporary. On a separate note, Industrial Production was up 0.4% for June, with Capacity Utilization at 76.6%. Finally, Retail Sales were down 0.2% for June, slightly worse than expected.
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Commentaries
July 7, 2017
The ISM Manufacturing index showed strength in June as it reported better than expected at 57.8 versus 54.9 for May. A reading above 50 means the sector is expanding. Factory orders came in worse than expected for May at -0.8% versus an expected -0.5% according to a Bloomberg survey. Nonfarm payroll came in higher than expected at 222,000 jobs added in the month of June. The unemployment rate ticked higher to 4.4% due to more people actively looking for work.
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June 23, 2017
The Index of Leading Indicators was up 0.3% for the month of May, with most components showing strength. New single-family home sales were revised higher in April, to a run rate of 593,000 units. In May, new
single-family home sales were also strong, at a 610,000 annual unit run rate.
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