June Unit-Auto Sales Post a 13-million Annualized Rate
Auto sales continued to rebound in June following a two-month plunge during lockdowns but remain well below the prior range.
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Labor Market Recovery Continued in June but Surging COVID-19 Cases Raises Uncertainty
Nearly 5 million private U.S. jobs were recovered in June; however, surging new COVID-19 cases are threatening the recovery.
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Manufacturing Sector Starting to Grow Again
The ISM Manufacturing survey showed significant improvement in June with several components posting record monthly rates of gains.
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Consumer Optimism Extends Rebound in June, But Outlook Remains Uncertain
Consumer attitudes improved somewhat in June, but resurging COVID-19 cases is sustaining doubts and increasing the uncertainty for the economic outlook.
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New Outbreaks Are Causing Regional Disparities in Consumer Sentiment
Consumer attitudes are improving along with the easing restrictions, but significant concerns regarding the outlook remain, especially with regard to new outbreaks in some states.
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Easing Restrictions Helped Boost Wages in May
Consumer spending rebounded in May as lockdown policies eased but massive distortions to economic activity continue.
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Manufacturers’ New Durable-Goods Orders Rebound in May
Manufacturers’ new orders for durable goods partially rebounded in May showing that as government restrictions are eased, economic growth is likely to re-emerge.
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Reopening is Helping Drive Initial Unemployment Claims Lower
Reopening of the economy should help bring an end to the policy-induced recession of 2020 but the damage has been severe.
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Easing Lockdowns Slow Initial Claims but Cumulative Claims Top 45 Million
The policy-induced recession of 2020 has resulted in more than 45 million jobs lost. As lockdown restrictions ease, signs of bottoming and recovery are starting to emerge.
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Housing Permits Pick Up in May, Outlook Improving
Housing starts were mixed in May, but permits were broadly higher, supported by easing lockdown restrictions, low mortgage rates, and rebounding builder confidence.
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Manufacturing Activity Increases in May
Easing of lockdown policies in May is aiding in the reversal of some of the economic carnage from March and April.
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Easing Restrictions Helps Boost Retail Sales in May
Retail sales posted a surge in May, coming out of the policy-induced economic coma but a full return to pre-pandemic conditions is likely months, and possibly quarters, away.
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