U.S. Economic Indicators

The Chicago Fed National Activity Index improved from -17.89 in April to +2.61 in May. All four broad categories of indicators – employment; consumption; production; and sales, orders & inventories – contributed positively to the index. Chicago Fed Report

Existing home sales fell 9.7% to a seasonally adjusted annual rate of 3.91 million in May and were down 26.6% compared to year ago. Home sales declined in all four major regions, with the largest decrease occurring in the Northeast. NAR Report

U.S. News

The Wall Street Journal reports that warehouse demand is surging as companies work to retool supply chains to handle increased e-commerce activity and relocate operations closer to consumers. Industrial real estate activity experienced a rapid rebound in May, suggesting that declines early on in the pandemic were due to state lockdowns rather than a structural shift in warehouse demand. WSJ