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Consumer sentiment ticked up fractionally in May as Americans grew more optimistic about economic growth – but more pessimistic about current conditions. The University of Michigan’s closely-watched confidence tracker rose to 97.1 from 97.0 in April. It had touched 97.7 in a mid-May reading, and economists surveyed expected no change from that reading for the
READ MOREThe Federal Reserve could trigger a long-awaited move to reduce its massive $4.5 trillion in debt holdings by September, a summary of the central bank’s last meeting suggest.
READ MORESpending jumps 0.4%; inflationary pressures wane. Aided by rising incomes and tax refunds, Americans boosted spending in April at the fastest clip since the end of 2016 in another sign the economy has speeded up during the spring. Lower inflation that reflects falling oil prices also gave households an extra cushion.
READ MOREThe smallest annual increase of any of the 20 cities is still about double the rate of inflation. The S&P/Case-Shiller 20-city index rose 5.9% compared to a year ago in the three-month period ending in March, a tick higher than the 5.8% gain economists expected. That was the strongest annual price gain since July 2014.
READ MOREConsumer confidence fell in May for the second month in a row, suggesting Americans have tempered their expectations for the economy after a huge burst of optimism earlier in the year. The Conference Board said its consumer confidence index dropped to 117.9 in May from 119.4 in April. Just three months earlier, consumer confidence hit
READ MOREEmployers added a seasonally-adjusted 153,000 jobs during the month, payroll processor ADP said. That was below the 180,000 jobs that a consensus of economists had forecast.
READ MOREU.S. Treasury yields rose on Thursday, joining a global selloff in government paper, as investors took a cautious stance amid fears that central banks were on the verge of halting easy-money policies.
READ MOREA gauge of home purchase contract signings slumped for a second month in April, another sign the housing market is still struggling for a balance between supply and demand. The pending home sales index from the National Association of Realtors fell 1.3% to a level of 109.8 from a downwardly-revised March reading. The index was
READ MOREThe trade deficit fell 2.3% in May largely because of fewer imports of cell phones and other consumer goods, but the longer-run outlook for the U.S. was still grim. The deficit slipped to $46.5 billion in May from $47.6 billion in April, the Commerce Department said Thursday. Economists polled had forecast a $46.3 billion gap.
READ MOREThe Chicago business barometer, or Chicago PMI, fell to 55.8 in May from a 28-month high of 58.3 in April. Any reading over 50 indicates improving conditions
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