U.S. Economic News

June 14, 2018

U.S. Economic Indicators

Retail sales surged 0.8% in May and were up 5.9% on the year.  Core sales — which excludes autos, gasoline, building materials, and food services — increased 0.5%. Census Bureau Report
 
Business inventories rose 0.3% in April and were up 4.4% from last year.  
Manufacturers’ sales were flat in April, but were up 7.2% on the year. Census Bureau Report

Initial jobless claims decreased 4,000 to 218,000 last week. The four-week moving average fell 1,250 to 224,250.  DOL Report

U.S. News

The Wall Street Journal reports that the Federal Reserve has raised its benchmark interest rate by 25 basis points and is likely to raise rates two more times this year. The Fed had previously expected to raise interest rates just three times this year, however a sub-4% unemployment rate as well as strengthening consumer and investment spending have caused officials to reevaluate their outlook for 2018. WSJ

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