U.S. Economic News
June 16, 2020
U.S. Economic Indicators
Retail sales rose 17.7% in May but were down 6.1% from a year ago. Core sales – which exclude autos, gasoline, building materials, and food services – increased 11.0%. Census Bureau Report
Industrial production increased 1.4% in May but is down 15.3% year-over-year. Capacity utilization increased 0.8 point to 64.8. Fed Report
Business inventories fell 1.3% in April and were down 2.3% from April of last year. Manufacturers’ sales declined 13.5% in April and were down 19.4% compared to a year ago. Census Bureau Report
The NAHB Housing Market Index jumped 21 points to 58 in June. NAHB notes that the housing market is benefiting from low interest rates, increased consumer confidence, and heightened demand for single family homes in lower density areas. NAHB Report