Succinct Summations for the week ending June 16th, 2017
1. FOMC recognized the improving economy, and continued the process of “normalization; Federal Fund Rate Target is now 1.00-1.25%. Reducing the size of the Fed balance sheet continues.
2. Empire state manufacturing comes in at 19.8, the strongest reading since September 2014.
3. New jobless claims fell from 245k to 237k.
4. Import prices in May fell 0.3% m/o/m.
5. Small business optimism remains high, with NFIB coming in at 104.5, unchanged from last month.
1. Another rate increase this year and more in the future are the other side of the coin from the Federal Reserve.
2. Housing starts fell 5.5% in May to a much lower-than-expected annualized rate of 1.092 million.
3. CPI fell 0.1% m/o/m. Core CPI rose just 1.7% y/o/y, the lowest since May 2015.
4. Retail sales fell 0.3% m/o/m, the biggest decline in 16 months.
5. Energy producer prices fell 3% in May. Export prices fell 0.7%.
6. MBA purchased index fell 3% w/o/w.
7. Industrial production unchanged in May, saw its manufacturing component fell 0.4 percent