This Week’s Top Economic Data Points: U.S. Steel Exports Increase In April
- U.S. steel exports fell 0.9 percent between March 2017 and April 2017, but increased 11.2 percent between April 2016 and April 2017.
- The Federal Reserve Bank of Kansas City announced last week that its manufacturing index increased +11 in June from +8 in May due to increases in the readings for employment, production, and shipments.
- According to the U.S. Labor Department, the number of individuals who filed for federal unemployment insurance benefits increased to 241,000 for the week that ended June 17 from 238,000 the week before. The four-week moving average of first-time claims also rose slightly, as did the number of individuals who continued to receive benefits. That figure increased to 1.944 million for the week that ended June 10 from 1.936 million the week before. The four-week moving average of continuing claims also rose.
- In other economic news: the Conference Board index of leading economic indicators increased 0.3 percent in May to 127.0, a reading that indicates the economy is likely to remain on it long-term trend of about two percent growth for the remainder of the year; new homes sales in the United States increased 2.9 percent between April 2017 and May 2017 and were up 8.9 percent between May 2016 and May 2017; existing homes sales in the United States increased 1.1 percent from April to May and 2.7 percent year-over-year.