U.S. Economic News

June 15, 2018

U.S. Economic Indicators

Industrial production edged down 0.1% in May (up 3.5% Y/Y), after increasing 0.9% (revised) in April.  Capacity utilization fell 0.2 point to 77.9 in May.  Fed Report

The University of Michigan Consumer Sentiment Index rose 1.3 points to 99.3 in the preliminary June reading, and is up 4.3 points on the year. The Current Economic Conditions Index jumped 6.1 points to 117.9, while the Index of Consumer Expectations fell 1.7 points to 87.4. Report

U.S. News

The Wall Street Journal reports that shortly after President Trump approved tariffs on $50 billion of Chinese imports, Beijing stated intentions to retaliate in kind. Though Beijing didn’t immediately specify which American goods would be targeted, a list released by China’s Commerce Ministry when the tariffs were first discussed included U.S. soybeans, sorghum, and aircraft. WSJ

According to the Wall Street Journal, the share of workers’ pay going to bonuses reached a new high this year, reflecting a shift in how employers offer compensation boosts. Private-sector bonuses not directly tied to a worker’s output climbed to the highest share of employer pay and benefit costs since 2008, suggesting that employers are offering bonuses in lieu of longer-term wage increases as a way to keep a lid on base pay. WSJ

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