Author: Zac Martin, Investment Associate
Week Ending June 21st – Heat Waves
- Retail Sales for May fell short of analyst expectations only growing 0.1%, or 2.9% year-over-year. The increase was led by hobby related goods and offset by gas stations & furniture stores.
- Industrial Production grew above expectations to 0.9% for May. All industry groups increased; however, mining saw an increase with oil related products offset by a decrease in metals. Likewise, manufacturing saw an increase in wood products, machinery and electronic products; but a large decrease in furniture.
- Leading Indicators for May saw a decrease of -0.5% to bring the Index to 101.2. While not signaling a recession, this month’s report was brought lower due to consumer sentiment around the economy and new orders.
The week ahead:
- Consumer Confidence (6/25)
- Building Permits & New Home Sales (6/26)
- GDP for Q1 (6/27)
- Personal Consumption Expenditure (6/28)
- Earnings: FDX (6/25), GIS, MU (6/26)
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