Economic indicators

The New York economy continues to expand, as revenues rebounded in June.

Construction spending increased 0.4% in May, the Commerce Department said Monday, and is 4.5% above the May 2017 level.

According to the ISM's monthly report on business, the ISM index increased to 60.2 in June from 58.7 in May.

The University of Michigan's final June consumer sentiment index reading was 98.2.

The MNI Chicago Business Barometer rose 1.4 points to 64.1in June, up from 62.7 in May, hitting the highest level since January.

The data suggest inflation is not retreating, with the year/year rate for the core measure jumping up to 2.0% and the PCE price index rising to 2.3%.

The May Midwest Economy Index slipped to 0.51 from an upwardly revised 0.55 in April.

Respondents to the Federal Reserve Bank of Kansas City's monthly manufacturing survey reported stronger activity and optimism in June.

Initial jobless claims rose by 9,000 to 227,000 in the June 23 week, moving only slightly ahead of the tight range seen in recent weeks.

First quarter GDP growth was revised lower to a 2.0% annual rate from the 2.2% pace in the second estimate.

Pending home sales declined 0.5% to an index reading of 105.9 in May, after an unrevised 1.3% fall to 106.4 in April.

The value of U.S. durable goods new orders fell 0.6% in May, a smaller drop than the 0.8% decrease expected by analysts.

Texas service sector activity “continued to increase in June, although at a slightly slower pace than last month.”

Service sector “activity grew robustly in June,” according to the Federal Reserve Bank of Richmond service-sector activity survey, released Tuesday.

Manufacturing growth in the central Atlantic region “continued to expand in June.”

The consumer confidence index decreased to 126.4 in June from a revised 128.8 last month, The Conference Board reported Tuesday.

Home prices rose 6.4% on an annual basis in April, not seasonally adjusted.

The region's services sector showed “continued expansion,” as the general business conditions index slid to 39.1 in June from 45.3 in May.

Texas factory activity growth, as measured by the production index, “continued in June, albeit at a slower pace than in May,” according to the monthly Texas Manufacturing Outlook Survey conducted by the Federal Reserve Bank of Dallas, released Monday.

New single-family home sales rose by 6.7% to a 689,000 annual rate in May, led solely by a sharp increase in sales in the large South region.