Strong SUV, truck demand drive US auto sales higher in June
Major automakers on Tuesday posted mixed U.S. sales results for June and the second quarter, with demand still fairly strong for SUVs and pickup trucks while passenger car sales continued a long-running decline.
Manufacturing was better than expected in June, but inflation remains muted
Manufacturing activity was surprisingly strong in June, according to a closely watched gauge leased Monday that also pointed to a rebound in hiring.
U.S. consumer spending, inflation rise moderately in May
U.S. consumer spending increased moderately in May and prices rose slightly, pointing to slowing economic growth and benign inflation pressures, which could give the Federal Reserve ammunition to cut interest rates next month.
Consumer sentiment slightly beats expectations in June
Consumer sentiment rose to 98.2 in June, coming in slightly above the forecast of 98.0.
Moderate U.S. consumer spending, inflation support rate cut
U.S. consumer spending increased moderately in May and prices rose slightly, pointing to slowing economic growth and benign inflation pressures, which could give the Federal Reserve ammunition to cut interest rates next month.
Debt and deficits won’t be as bad as feared but are still dangerous, CBO says
Both the nation’s debt and deficit will grow more slowly than previously forecast, according to new government data, the result of lower interest rates and reduced disaster spending.
US core capital goods orders rebound; shipments increase
New orders for key U.S.-made capital goods rose more than expected in May and shipments increased solidly, suggesting some stabilizing in business spending on equipment after it fell early in the year.
U.S. economy accelerated in first quarter, but momentum fading
U.S. economic growth accelerated in the first quarter, the government confirmed on Thursday, but the export and inventory boost to activity masked weakness in domestic demand, some of which appears to have prevailed in the current quarter.
Debt and deficits won’t be as bad as feared but are still dangerous, CBO says
Attached article explains that US debt as a percent of GDP is 141%. This figure does not include entitlement spending which is not currently funded by the US government. If we add in entitlement spending deficits, US debt to GDP is over 500%. This is why entitlement reform is absolutely coming.
Fed indicates it will cut rates — but not until 2020
The Federal Reserve on Wednesday said it does not expect any rate cuts this year, but did forecast one for 2020.