The economy keeps moving forward, even when the headlines are focused elsewhere.
Today’s Industrial Production report showed that U.S. factories, mines, and utilities continued producing goods in May, with overall output edging slightly higher.
While this isn’t the type of report that generates the excitement of a major sporting event or a historic news headline, it does suggest that the economy continues moving forward at a steady pace.
For most of us, the report won’t have an immediate impact on our daily lives. Still, it is one of many indicators economists watch to better understand the health of the economy.
The more closely watched reports this week are still ahead. Tomorrow we’ll receive the latest Housing Starts report, followed by Retail Sales and the Federal Reserve’s interest rate decision later in the week.
Learn More:
- Federal Reserve Industrial Production and Capacity Utilization Report: https://www.federalreserve.gov/releases/g17/current/default.htm
In the meantime, enjoy the summer weather, the FIFA World Cup, time with family and friends, and the simple things that make life enjoyable.
Peace to everyone.
Willie and I appreciate every reader. 🐾