Retail sales for the month of May both saw increases to varying degrees, according to data issued today by the United States Department of Commerce and the National Retail Federation.
U.S. housing starts hurt by weakness in multi-family units
U.S. housing starts slipped in May as the construction of multi-family housing units dropped, but further gains in building permits signaled a rebound that would support economic growth in the second quarter.
Yellen says the Fed will be less predictable
The Federal Reserve chair told the Senate Banking Committee on Tuesday the central bank is in no hurry to raise interest rates. Yellen once again stressed the word “patience.” On Wednesday, she appears before the House of Representatives’ Financial Services Committee.
Truck Cargo Thefts on The Rise
The number of truck cargo thefts in the U.S. increased in the first quarter of the year but the average value of each heist declined, according to a new report from the logistics security services provider FreightWatch International.
AAR REPORTS WEEKLY RAIL TRAFFIC FOR THE WEEK ENDING MAY 14, 2016
The Association of American Railroads (AAR) reported U.S. rail traffic for the week ending May 14, 2016. For this week, total U.S. weekly rail traffic was 498,379 carloads and intermodal units, down 9.2 percent compared with the same week last year.
U.S. existing home sales rise for second straight month, inventory still tight
U.S. home resales rose more than expected in April, suggesting the economy continues to gather pace during the second quarter. The National Association of Realtors said on Friday existing home sales increased 1.7 percent to an annual rate of 5.45 million units.
More container cargo moving with NVOCCs
Approximately 37.5 percent of imports to the United States were contracted by non-vessel operating common carriers in the first quarter of 2016, according to research firm Datamyne.
Retail Sales Gain Is Fueled by Web
Consumers boosted spending in April to the highest levels in more than a year, accelerating their turn toward online shopping and widening the divide between in-store retailers and Internet outlets pitching lower prices and convenience. (This article requires a subscription to the Wall Street Journal. To access, please click on the above link.)
Nestle, General Mills in favor of national food dating standard; shelf life impact questions loom
Nestle voiced its support Wednesday for legislation proposed in the House and Senate that aims to reduce food waste by standardizing date labels on food and beverage products. General Mills also announced its support for a national date labeling standard.
Oil Hit by Stronger Dollar, Increase in U.S. Crude Stocks
Oil prices are drifting lower Thursday on a stronger dollar and an unexpected increase in U.S. crude inventories. The fall comes after a rally in recent sessions fueled by production outages in Africa and Canada. Production declines across the globe have propelled expectations of shrinking the global oversupply, but many countries are still pumping at […]