US

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This week’s reports:

  • June’s NY Empire State Manufacturing Index jumped to -0.2 from May’s -48.5.
  • May’s Industrial Production rose 1.4%, less than the expected +2.9%, from April’s -12.5%. Production increased as many factories resumed at least partial operations. Capacity Utilization rose to 64.8% from April’s 64%.       
  • April’s Business Inventories fell 1.3% from March’s -0.3%.
  • June’s Philadelphia Fed Manufacturing Index surged to +27.5, much higher than the expected reading of -23, from May’s -43.1.
  • May’s Retail Sales jumped 17.7% from April’s -14.7% versus the expectations of an 8% increase. Retail Sales ex Autos rose 12.4% from April’s -15.2%.        
  • June’s NAHB Housing Market Index rose to 58 from May’s reading of 37. The index was led up by a surge in builder confidence in the market for newly-built single-family homes.
  • May’s Housing Starts rose 4.3% from April’s -26.4%. Building Permits jumped 14.4% from April’s -21.4%.        
  • Initial Jobless Claims for the week ending June 13th fell by 58K to 1.508M, their 11th straight weekly decline. Continuing Jobless Claims for the week ending June 6th fell by 62K to 20.544M. Consensus expectations were for 19.8 million continuing claims.