Author: Zac Martin, Investment Associate
Week Ending June 13th – Heating Up?
NFIB Small Business Optimism Index improved with the May report. The outlook around business expansion reported a historically high number of net 25%. Additionally, the net percent of business owners increasing their average selling price remained unchanged at 25%. Overall, respondents suggested that demand remains strong for their goods and services.
Consumer Price Index May results were better than analyst expectations, increasing 2.4% year over year. Energy prices continued to act as the deflationary ballast, declining 3.5% for the past year. Additionally, core inflation also reported better than expected results primarily led by the continued deceleration of insurance & housing costs.
The preliminary reading for the Michigan Sentiment Index remains below levels from one year ago but increased on a month over month basis. This improvement in sentiment was unanimous across age, income, political affiliation and geographic region.
The Week Ahead:
- Retail Sales (6/17)
- NAHB Housing Market Index (6/17)
- FOMC Meeting (6/18)
- Leading Economic Indicators Index (6/20)
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