US Economic News

Amid rising material prices and supply chain shortages, homebuilder confidence in the U.S. unexpectedly decreased in the month of June, the National Association of Home Builders revealed in a report on Tuesday.

A report released by the Federal Reserve on Thursday showed U.S. industrial production increased by more than expected in the month of May after a downwardly revised uptick in the previous month. The Fed said industrial production climbed by 0.8 percent in May after inching up by a revised 0.1 percent in April.

New York manufacturing activity expanded at a slower rate in the month of June, according to a report released by the Federal Reserve Bank of New York on Tuesday. The New York Fed said its general business conditions index fell to 17.4 in June from 24.3 in May, although a positive reading still indicates growth in regional manufacturing activity.

A report released by the Labor Department on Tuesday showed producer prices in the U.S. increased by more than expected in the month of May, with the annual rate of growth reaching a record high. The Labor Department said its producer price index for final demand advanced by 0.8 in May after climbing by 0.6 percent in April.

Partly reflecting a sharp pullback in auto sales, the Commerce Department released a report on Tuesday showing retail sales in the U.S. tumbled by much more than expected in the month of May. The Commerce Department said retail sales plunged by 1.3 percent in May, while economists had expected a 0.8 percent decrease.

New York manufacturing activity expanded at a slower rate in the month of June, according to a report released by the Federal Reserve Bank of New York on Tuesday.

A report released by the Labor Department on Tuesday showed producer prices in the U.S. increased by more than expected in the month of May.

Partly reflecting a sharp pullback in auto sales, the Commerce Department released a report on Tuesday showing retail sales in the U.S. tumbled by more than expected in the month of May.