Last updateMon, 21 Aug 2017 7pm


Consumer Prices in June Show Signs of Modest Inflation

The Consumer Price Index was unchanged in June on a seasonally adjusted basis, the U.S. Department of Labor reported today. Over the last 12 months, the all items index rose 1.6%. The energy index declined again in June, falling 1.6%; this offset an increase in the index for all items less food and energy. All the major energy component indexes declined, with the gasoline index falling 2.8%.

The all items index rose 1.6% for the 12 months ending June; this measure has been declining steadily since February, when it was 2.7%. 

U.S. Sees 'Slight to Moderate' Growth in June

Economic activity expanded across all twelve Federal Reserve Districts in June, with the pace of growth ranging from slight to moderate. In addition, the majority of Districts expected modest to moderate gains in the months ahead. Manufacturing and nonfinancial services activity continued to grow, with most Districts reporting modest to moderate gains since the last report. The manufacturing sector noted steady to modestly rising input costs. 

U.S. Manufacturing Technology Orders Up 3.1% in May

The U.S. Manufacturing Technology Orders report for May 2017 showed gains for the month and year over year, according to the Association for Manufacturing Technology (AMT). May orders were up 3.1% over April, and 21.8% over May 2016. The gains in manufacturing technology orders are in line with other positive economic indicators for the manufacturing industry: industrial production, rising exports, continued industry expansion as indicated by the PMI, and strong consumer sentiment.

Orders for May 2017 totaled $351.85 million, compared to $341.33 million in April and $288.93 million in May 2016. Year to date, orders are valued at $1,667.18 million, compared to $1,552.37 million for the same point in 2016. 

U.S. Added 222,000 Jobs in June

Total nonfarm payroll employment increased by 222,000 in June, and the unemployment rate is up 0.1% to 4.4%, the U.S. Department of Labor reported today. Employment increased in health care, social assistance, financial activities and mining. Employment in other major industries, including construction and manufacturing, showed little change over the month.

In June, mining employment grew by 8,000, with most of the growth in support activities for mining (+7,000). Since a recent employment low in October 2016, mining has added 56,000 jobs. 

U.S. Factory Orders Declined 0.8% in May

New orders for manufactured goods in May, down two consecutive months, decreased $3.7 billion or 0.8% to $464.9 billion, the U.S. Department of Commerce reports. This followed a 0.3% April decrease. Shipments, up five of the last six months, increased $0.6 billion or 0.1% to $471.5 billion.

New orders for manufactured durable goods in May, down two consecutive months, decreased $1.9 billion or 0.8% to $229.1 billion, up from the previously published 1.1% decrease. This followed a 0.8% April decrease. 

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