U.S. Economic News
July 14, 2017
U.S. Economic Indicators
Consumer prices were unchanged in June (up 1.6% on the year). The “core” CPI, which excludes food and energy, inched up 0.1% in June and is up 1.7% on the year. BLS Report
Business inventories rose 0.3% in May and were up 2.4% from last year. Manufacturers’ sales were down 0.2% from April to May but were up 5.1% on the year. Census Bureau Report
Industrial production rose 0.4% in June (up 2.0% Y/Y) after rising 0.1% (revised) in the previous month. Capacity utilization edged up 0.2 percentage point to 76.6. Fed Report
Retail sales fell 0.2% in June but were up 2.8% on the year. Core sales — which excludes autos, gasoline, building materials, and food services — edged down 0.1%. Census Bureau Report
The University of Michigan Consumer Sentiment Index fell 2.0 points to 93.1 in the final July reading but is up 3.1 points on the year. The Current Economic Conditions Index edged up but the Index of Consumer Expectations fell to 80.2 and is down over 10 points year-to-date. Report