U.S. Economic News
May 26, 2020
U.S. Economic Indicators
The Conference Board’s Consumer Confidence Index ticked up from 85.7 (revised) in April to 86.6 in May. Consumers’ assessment of current business and labor market conditions worsened, while near-term expectations for jobs, business conditions, and financial prospects improved. Conference Board Report
New home sales increased 0.6% in April to a seasonally adjusted annual pace of 623,000 but were down 6.2% from year-ago levels. The median sales price fell to $309,900 and the inventory of new homes edged down to 6.3 months at the current sales rate. Census Bureau Report
U.S. News
The Washington Post reports that surges in coronavirus cases at meat-processing plants around the country — despite improved worker protection measures — demonstrate how difficult it may be for many parts of the U.S. economy to return to ‘normal.’ In Iowa, Nebraska, and South Dakota, meat workers are responsible for 18%, 20%, and 29% of state coronavirus cases, respectively, emphasizing the predicament facing Midwest states as they work to ensure worker safety while keeping the country’s food supply chain operational. WaPo