Economic indicators

The Leading Economic Index was up 0.3% in May following a revised 0.2% increase in April, first reported as a 0.3% gain, the Conference Board reported Thursday.

Initial claims for U.S. state unemployment benefits rose by 3,000 to 241,000 in the June 17 employment survey week, as expected following a small upward revision to the claims level in the previous week, data released by the Labor Department Thursday showed.

Existing home sales gained 1.1% to a seasonally adjusted 5.62 million-unit rate in May from a revised 2.5% decline to a 5.56 million sales pace the previous month, the National Association of Realtors announced Wednesday.

Puerto Rico’s employment indicators were mixed in May compared to April and to May 2016.

The U.S. current account deficit widened for the third straight quarter to $116.8 billion in the first quarter from a revised $114.0 billion gap in the previous quarter, the Commerce Department said.

The region's non-manufacturing sector “continued to expand,” at a faster pace, as the general business conditions index increased to 33.6 in June from 25.6 in May, this month's Federal Reserve Bank of Philadelphia Report on Business, released Tuesday, indicates.

The University of Michigan's preliminary June consumer sentiment index reading was 94.5, compared to the final May 97.1, and the final April 97.0, according to market sources.

WASHINGTON (MNI) - The pace of housing starts fell by 5.5% to a 1.092 million seasonally adjusted annual rate in May, well below expectations for a rebound to a 1.225 million pace and the slowest pace since September, data reported by the Commerce Department Friday morning showed.

Builders’ confidence in the market for new single-family homes slipped as the National Association of Home Builders' housing market index fell to 67 in June from a downwardly revised 69 in May.

Industrial production was flat in May, the Federal Reserve reported Thursday.

U.S. import prices fell by 0.3% in May on a 3.7% plunge in fuel prices and flat reading for the non-fuel components. Import prices were also flat excluding just petroleum.

Initial claims for U.S. state unemployment benefits fell by 8,000 to 237,000 in the June 10 week, below the 242,000 level analysts expected following an unrevised 245,000 level in the previous week, data released by the Labor Department Thursday showed.

The region's manufacturing sector expanded in June, but at a slower pace than in May, as the general business conditions index decreased to 27.6 from 38.8 in May, this month's Federal Reserve Bank of Philadelphia Report on Business indicates.

The Empire State Manufacturing Survey showed "business activity rebounded strongly in New York State," the Federal Reserve Bank of New York reported Thursday.

The value of business inventories fell 0.2% in April, as expected by analysts and predicted by an MNI calculation, while business sales were flat, a Commerce Department report Wednesday showed.

Retail sales in May came in below the month's modest expectations Wednesday, with a 0.3% decline, with nine major categories either flat or down.

The consumer price index fell 0.1% in May, and the core rate rose 0.1%, the Bureau of Labor Statistics reported Wednesday.

Business inflation softened in May as services - including profit margins - were firm, but goods prices counterbalanced with a big decline.

Small business optimism held at a 104.5 level in May, the National Federation of Independent Business said Tuesday.

The federal government ran an $88.4 billion deficit in May, the Treasury Department reported Monday.