COVID-19: Coronavirus Coverage

The latest index came in at 12, down from 23 last month, indicating slowed expansion in June. The future outlook fell to 10. All figures are seasonally adjusted. Here is a snapshot of the complete Kansas City Fed Manufacturing Survey.

This morning's seasonally adjusted 229K new claims, down 2K from the previous week's revised figure, was above the Investing.com forecast of 227K.

This morning's release of the May Existing-Home Sales showed that sales fell to a seasonally adjusted annual rate of 5.41 million units from the previous month's 5.6 million. The Investing.com consensus was for 5.39 million. The latest number represents a 3.4% decrease from the previous month and a 8.6% decrease YoY.

The Chicago Fed National Activity Index (CFNAI) fell to +0.01 in May from +0.40 in April. Two of the four broad categories of indicators used to construct the index made negative contributions in May, and two categories deteriorated from April. The index’s three-month moving average, CFNAI-MA3, decreased to +0.20 in May from +0.40 in April

The latest Conference Board Leading Economic Index (LEI) for May was down 0.4% from the April final figure of 118.8.

The latest Manufacturing Index came in at -3.3, down 5.9 from last month's 2.6. The 3-month moving average came in at 5.6, down from last month. Since this is a diffusion index, negative readings indicate contraction, positive ones indicate expansion. The Six-Month Outlook came in at -6.8, down from the previous month's 2.5.

Month-over-month nominal sales in April were up 0.90% and up 8.19% YoY. Real Retail Sales, calculated with the seasonally adjusted Consumer Price Index, increased by 0.57% and were down 0.04% YoY.

The Census Bureau's Advance Retail Sales Report for May was released this morning. Headline sales came in at -0.27% month-over-month to two decimals and was below the Investing.com forecast of 0.2%. Core sales (ex Autos) came in at 0.52% MoM.

This morning we got the latest Empire State Manufacturing Survey. The diffusion index for General Business Conditions at -1.2 was an increase of 10.4 from the previous month's -11.6. The Investing.com forecast was for a reading of 3.0.

The headline number for May came in at 93.1, down fractionally from the previous month. The index is at the 16th percentile in this series.

This morning's release of the May Producer Price Index (PPI) for Finished Goods was up 1.8% month-over-month seasonally adjusted, up from a 0.8% change last month. It is at 16.4% year-over-year, up from a 15.5% increase last month, on a non-seasonally adjusted basis.

Let's do some analysis of the Consumer Price Index, the best-known measure of inflation. The Bureau of Labor Statistics (BLS) divides all expenditures into eight categories and assigns a relative size to each. The pie chart illustrates the components of the Consumer Price Index for Urban Consumers, the CPI-U.

We are now seeing the highest Headline inflation rates since the second of the two recessions in the early 1980s. Here is a table showing the annualized change in Headline and Core CPI, not seasonally adjusted, for each of the past six months.

The Bureau of Labor Statistics released the May Consumer Price Index data this morning. The year-over-year non-seasonally adjusted Headline CPI came in at 8.58%, up from 8.26% the previous month. Year-over-year Core CPI (ex Food and Energy) came in at 6.02%, down from 6.16% the previous month.

We've updated our monthly workforce analysis to include the latest Employment Report for May. The unemployment rate remained at 3.6%, and the number of new nonfarm jobs (a relatively volatile number subject to extensive revisions) came in at 390K.

Let's take a closer look at last week's employment report numbers on Full and Part-Time Employment.

The U.S. International Trade in Goods and Services, also known as the FT-900, is published monthly by the Bureau of Economic Analysis with data going back to 1992 and details U.S. exports and imports of goods and services. Today's headline number of -87.08B was better than the -89.5B Investing.com forecast.

This commentary has been updated to include Friday morning's release of Nonfarm Employment. May saw 390K increase in total nonfarm payrolls. The unemployment rate remained at 3.6%. The Investing.com consensus was for 325K jobs gained.

The latest monthly employment report showed a gain of 390K nonfarm jobs, which consists of a gain of 331K service-providing jobs and a gain of 59K goods-producing jobs.

The May US Services Purchasing Managers' Index conducted by Markit came in at 53.4 percent, down slightly from the final April estimate of 55.6.

The Institute of Supply Management (ISM) has now released the May Services Purchasing Managers' Index (PMI). The headline Composite Index is at 55.9 percent, down 1.2 from 57.1 last month. Today's number came in below the Investing.com forecast of 56.4 percent.

Here is the latest update of a popular market valuation method using the most recent Standard & Poor's "as reported" earnings and earnings estimates and the index monthly average of daily closes for the past month.

This morning the Institute for Supply Management published its monthly Manufacturing Report for May. The latest headline Purchasing Managers Index (PMI) was 56.1, an increase of 0.7 from 55.4 the previous month and in expansion territory. Today's headline number was below the Investing.com forecast of 54.5.

The May US Manufacturing Purchasing Managers' Index conducted by Markit came in at 57.0, down 2.2 from the final April figure. Markit's Manufacturing PMI is a diffusion index: A reading above 50 indicates expansion in the sector; below 50 indicates contraction.

The latest JOLTS report (Job Openings and Labor Turnover Summary), with data through April, is now available.

The latest Chicago Purchasing Manager's Index, or the Chicago Business Barometer, rose to 60.3 in May from 56.4 in April, which is still in expansion territory. Values above 50.0 indicate expanding manufacturing activity.

The accompanying chart is a way to visualize real GDP change since 2007 and uses stacked column chart to segment the four major components of GDP with a dashed line overlay to show the sum of the four, which is real GDP itself. Here is the latest overview from the Bureau of Labor Statistics.

With the release of this morning's report on April's Personal Incomes and Outlays, we can now take a closer look at "Real" Disposable Personal Income Per Capita. At two decimal places, the nominal 0.25% month-over-month change in disposable income is cut to 0% when we adjust for inflation. This is a decrease from last month's 0.42% nominal and an increase from the -0.48% real change. The year-over-year metrics are -0.54% nominal and -6.41% real.

Personal Income (excluding Transfer Receipts) in April rose 0.52% and is up 8.4% year-over-year. However, when adjusted for inflation using the BEA's PCE Price Index, Real Personal Income (excluding Transfer Receipts) MoM was up 0.27%. The real number is up 2.0% year-over-year. October through March revisions were made.