Consumer sentiment dropped to 65.6 in June, a seven-month low, which was much less than expected with declining sentiment on personal finances as the focus, according to the University of Michigan survey. … READ MORE >
USA
PCE inflation preview: From noise to norm, rate cuts are on the horizon
Following the release of the consumer price index and producer price index this week, we are now forecasting a 0.084% increase in the May personal consumption expenditures index, translating to a 2.6% increase on a year-over-year basis. … READ MORE >
5 things to know in life sciences: Week of June 10, 2024
Each week we highlight five things affecting the life sciences industry. Here’s the latest. … READ MORE >
Initial jobless claims jump as inflation continues to improve
The weekly initial jobless claims figure was the highest level in almost a year, nearing the threshold of 250,000 that in our view signals conditions for a possible recession. … READ MORE >
FOMC holds rates steady but is divided on their direction
Seven FOMC members supported one cut this year, eight supported two and four supported no cuts. Overall, the forecast projects a 5.125% rate later this year. … READ MORE >
Top 5 takeaways from MLC’s June manufacturing conference
From how manufacturers can secure their connected operations in the age of edge computing to how to ease the burden of technical debt, executives converged in Marco Island, Florida, last week to discuss the industry’s most pressing issues at the Manufacturing Leadership Council’s 2024 Rethink conference. … READ MORE >
U.S. consumer price index cools in May as gas and transportation costs decline
The encouraging May CPI data released by the Labor Department on Thursday is likely to be the first in a string of constructive inflation reports that will define policy normalization at the Fed. … READ MORE >
U.S. financial conditions update: A shift in structure and a new center of gravity
The RSM US Financial Conditions Index turned positive in January and has centered at 0,25 standard deviations above zero since March, indicating the normal level of risk priced into financial securities. … READ MORE >
Manufacturing added jobs in May, but still shows signs of softening
While federal employment numbers released Friday show the U.S. manufacturing sector added jobs in May, the sector also continued a gradual softening, according to data released earlier this week by the Institute for Supply Management. … READ MORE >
Health care sees steady growth and remains a job market powerhouse
Health care added 68,000 jobs in May while pushing up the three-month average to 66,000. … READ MORE >