Economic indicators

New York State business activity continued to grow strongly in June, according to the Empire State Manufacturing Survey.

Business inventories in April rose 0.3%, as expected data released by the Commerce Department showed.

Import prices rose 0.6% in May, while export prices also gained 0.6%, the Labor Department reported.

Initial jobless claims fell 4,000 to 218,000 in the latest reporting week, the Labor Department reported.

Retail sales rose 0.8% in May overall and 0.9% excluding motor vehicle sales, well ahead of analysts' expectations, the Commerce Department reported.

U.S. producer prices rose more than forecast in May as the cost of fuels surged by the most in three years, a Labor Department report showed Wednesday.

The federal government ran a $146.8 billion deficit in May, the Treasury Department reported Tuesday.

U.S. inflation accelerated in May to the fastest pace in more than six years, reinforcing the Federal Reserve's outlook for gradual interest-rate hikes while eroding wage gains that remain tepid despite an 18-year low in unemployment.

Small business optimism gained in May, reacting to tax cuts and regulatory changes, while nearly one in five respondents expect to raise prices.

Consumers’ inflation expectations held, but respondents’ optimism about income and spending slid.

April wholesale inventories rose by 0.1%, revised up slightly from the flat reading reported in the advance estimate, while wholesale sales jumped up 0.8% in the month.

Consumer credit increased by $9.3 billion in April to $3.883 trillion, the Federal Reserve reported Thursday.

Initial claims U.S. state unemployment benefits fell by 1,000 to 222,000 in the June 2 week, the lowest level in a month.

First quarter nonfarm productivity was revised down to a 0.4% gain, while unit labor cost growth was revised up to a 2.9% pace, the strongest in a year.

The U.S. international trade gap narrowed to $46.2 billion in April from $47.2 billion, a much smaller gap than the $48.8 billion deficit expected.

The U.S. services sector expanded at a faster pace in May as the non-manufacturing index rose to 58.6 from 56.8 in April.

The value of new factory orders fell 0.8% in April, below the 0.5% decline expected by analysts.

The Conference Board's Employment Trends Index (ETI) slid to 107.69 in May from a downwardly revised 108.00 in April.

The New York economy continues to expand, even as revenues slumped in May.

Construction spending surged by 1.8% in April, well above the 0.8% gain expected, mainly due to a 4.5% jump in private residential construction.