Gary Siegel

The overall economy grew for the thirty-sixth straight time, while the manufacturing sector expanded for the thirty-fourth time, the Institute for Supply Management reported Friday.

The Chicago Purchasing Managers’ Business Barometer dropped to 52.7 in May, its third straight decline and its lowest level since September 2009, the National Association of Purchasing Management-Chicago said Thursday.

Monetary policy must evolve based on Federal Open Market Committee projections, Federal Reserve Bank of Cleveland president Sandra Pianalto said Thursday.

The Treasury Department said Thursday it will auction $30 billion 91-day bills and $27 billion 182-day discount bills Monday.

The Chicago Purchasing Managers’ Business Barometer dropped to 52.7 in May, its third straight decline and its lowest level since September 2009, from 56.2 in April, the National Association of Purchasing Management-Chicago said Thursday.

The seasonally adjusted Milwaukee Report on Business climbed to 57.72 in May from 52.87 in April, according to the Institute for Supply Management-Milwaukee.

Monetary policy must evolve based on Federal Open Market Committee projections, Federal Reserve Bank of Cleveland President Sandra Pianalto said Thursday.

The Chicago Fed Midwest manufacturing index surged 2.4% in April to a seasonally adjusted level of 94.2, as three of the four regional sectors gained, the Federal Reserve Bank of Chicago reported Tuesday.

Texas factory activity, as measured by the production index, continued to expand at a slower pace in May than in April, according to the monthly business activity survey conducted by the Federal Reserve Bank of Dallas and released Tuesday.

The consumer confidence index declined to 64.9 in May from a downwardly revised 68.7 in April, the Conference Board reported Tuesday.

Tender rates for the Treasury Department’s latest 91-day and 182-day discount bills were unchanged, as the three-months incurred a 0.085% high rate, the same as 0.085% the prior week, and the six-months incurred a 0.140% high rate, unchanged from 0.140% the week before.

The Treasury Department said Tuesday it will sell $30 billion of four-week discount bills Wednesday.

Texas factory activity, as measured by the production index, continued to expand, at a slower pace in May than in April, according to the monthly business activity survey conducted by the Federal Reserve Bank of Dallas, released Tuesday.

The consumer confidence index declned to 64.9 in May from a downwardly revised 68.7 last month, The Conference Board reported Tuesday.

The Chicago Fed Midwest Manufacturing Index surged 2.4% in April to a seasonally adjusted level of 94.2, as three of the four regional sectors gained, the Federal Reserve Bank of Chicago reported Tuesday.

Jerome H. Powell on Friday took the oath of office as a member of the Board of Governors of the Federal Reserve, according to the Fed.

The University of Michigan's final May consumer sentiment index reading was 79.3, compared to the preliminary May 77.8, the final April 76.4, and the preliminary April 75.8, market sources said.

The University of Michigan's final May consumer sentiment index reading was 79.3, compared to the preliminary May 77.8, the final April 76.4, and the preliminary April 75.8, according to market sources.

Manufacturing activity in the Federal Reserve Bank of Kansas City’s region “rebounded, and producers were more optimistic than in previous months,” according to the bank’s monthly manufacturing survey for May, released Thursday.

The federal funds rate target will “remain exceptionally low — that is, at the current level — at least through late 2014,” Federal Reserve Bank of New York president William Dudley said Thursday.