The soft rebound in May’s retail sales was good news, suggesting that the economy might reach a soft landing sooner than expected. Total sales increased by 0.1% while the control group, which is the key metric that feeds into gross domestic production calculations, rose by 0.4%. Read more of RSM's ... READ MORE >
Industrials
Top 5 takeaways from MLC’s June manufacturing conference
From securing connected operations in the age of edge computing to easing the burden of technical debt, manufacturing executives converged in Marco Island, Florida, last week to discuss the industry's most pressing issues. The focus of the Manufacturing Leadership Council’s 2024 Rethink conference—also ... READ MORE >
Manufacturing added jobs in May, but still shows signs of softening
While federal employment numbers released Friday show that U.S. manufacturing added jobs in May, the sector also continued a gradual softening, according to data released earlier this week by the Institute for Supply Management. The ISM’s Purchasing Managers Index, which gauges U.S. factory activity, ... READ MORE >
Manufacturing activity slows in May
Softer manufacturing sentiment in May is within our expectations as elevated interest rates continue to weigh on overall goods demand. The Institute of Supply Management’s manufacturing index fell to 48.7 from 49.2, the lowest level in three months. Over a period of time, a reading above 48.7 indicates ... READ MORE >
Consumer inflation expectations moderate in May
The University of Michigan reported on Friday that consumer sentiment and inflation expectations improved in the second half of May. This may be welcome news after the Federal Reserve seemed less sure about whether interest rates were sufficiently restrictive or not. The effect of high interest rates ... READ MORE >
Soft housing and manufacturing data fuels prospect of rate cut
Economic data on housing, manufacturing and jobs released on Thursday pointed to softer-than-expected economic activity in the second quarter. Most notably was April’s data on housing starts and permits, which not only came in below estimates, but prior readings were also revised down. Rising mortgage ... READ MORE >
Senior Loan Officer Survey: Progress halts as inflation rebounds in Q1
Progress toward normalization in lending practices generally halted in the first quarter as the Federal Reserve turned more hawkish amid the rebound in inflation, according to data in a Fed report released on Monday. The Senior Loan Officer Opinion Survey on Bank Lending Practices showed that demand ... READ MORE >
Business equipment spending grows in March
Shipments of core capital goods rebounded in March, adding to the reasons why the data for gross domestic product should show an upside surprise when it is released on Thursday. The core capital goods shipments data, which excludes defense and aircraft, feeds into the calculation of GDP is a proxy for ... READ MORE >
Industrial production rebounds as housing starts plunge
Tuesday's mixed data on housing and industrial production shows how both sectors remained on a bumpy path as a result of elevated interest rates. Housing starts dropped by 14.7% to 1.32 million on an annualized rate, the lowest level since last August, while permits, a proxy for future projects, also ... READ MORE >
Texas energy supply during eclipse highlights importance of battery storage
Monday’s eclipse left millions in North America awestruck. It also raised questions about solar electricity generation at times when the sun isn’t shining; the astronomical event temporarily reduced the generation output of solar panels. The eclipse affected Texas in particular, as solar power is often ... READ MORE >