U.S. Economic News
June 27, 2018
U.S. Economic Indicators
New orders of manufactured durable goods edged down 0.6% in May after falling 1.0% (revised) in April, but are up 9.9% year-over-year. Excluding transportation, new orders slipped 0.3% (up 8.2% Y/Y). Census Bureau Report
The U.S. Census Bureau Advance Economic Indicators Report shows that the goods deficit narrowed to $64.8 billion in May from $67.3 billion in April. Meanwhile, wholesale inventories rose 0.5% and retail inventories rose 0.4%. Census Bureau Report
The National Association of Realtors pending home sales index edged down 0.5% in May (down 2.2% Y/Y). NAR says that the spring buying season was lackluster, as demand remained healthy but supply did not pick up in response. NAR Report
U.S. News
The Wall Street Journal reports that the Trump administration has decided to abandon efforts to impose new limits on Chinese investment in the U.S. The move comes after a sharp selloff in equity markets after reports came out that the administration was considering invoking executive authority to impose the new restrictions. WSJ