U.S. Economic News
May 31, 2018
U.S. Economic Indicators
Real disposable personal income rose 0.2% in April while real personal consumption expenditures (PCE) increased 0.4%. The PCE price index rose 0.2% (up 2.0% Y/Y) and the core price index also increased 0.2% (up 1.8% Y/Y). BEA Report
Initial jobless claims fell 13,000 to 221,000 last week. The four-week moving average increased 2,500 to 222,250. DOL Report
The National Association of Realtors pending home sales index declined 1.3% in April (down 2.1% Y/Y). NAR says that pending home sales have shown few signs of breaking out, as severe inventory shortages keep many potential buyers out of the market. NAR Report
U.S. News
The Wall Street Journal reports that the Trump administration has imposed tariffs on imports of steel and aluminum from the European Union. The tariffs come after the White House has been unable to win trade concessions from the EU, which has in turn threatened to impose tariffs on American blue jeans, bourbon, and motorcycles. WSJ