Conor Maloney
Philadelphia Fed Manufacturing Index at Four-Month High
The Philadelphia Federal Reserve reports that its manufacturing index hit a four-month high of 16.6 in May, well above the reading of 8.5 seen in April as well as the expected figure of only 9. Based on the data, it’s possible that inventories are finally unwinding after being stockpiled throughout the ongoing trade war, a view also supported by the recent NY Fed manufacturing report.
Growth in US Industrial Production Slumps to Two-Year Low in April
Industrial production in the US declined by -0.5% in April, brought low by a major drop in factory output due to the ongoing reduced demand for autos and auto parts. The rate of growth was the slowest in two years, and the 2nd worst since the last recession.
Gold Price Rises as Empire State Manufacturing Index Hits Six-Month High in May
The New York Federal Reserve announced on Wednesday that the Empire State manufacturing survey reached a six-month high in May, climbing from 10.1 in April to 17.8 in May. The result is well above market expectations of a 2-point decline to 8.0.
Gold Prices Climb as US Consumer Prices Rise in April, Inflation Remains Muted
Consumer prices in April rose 0.3% in April, in line with market expectations following a 0.4% gain in March. Annually, the Consumer Price Index (CPI) was slightly below expectations. Inflation pressure remains tame for the time being.
US Trade Deficit Widens in March but Gap With China Hits Three-Year Low
The US trade deficit grew slightly in March by 1.5% to $50.4 billion, and the trade gap with China sunk to the lowest level in three years due to sinking imports in an ongoing trade war between Washington and Beijing.
Gold Price Dips Following Tame Inflation Pressure From Producer Prices in April
A measure of US inflation pressure rose beneath market expectations in April, with the Producer Prices Index (PPI) increasing by 2.4% annually.
has been the number 1 site for live gold and silver price charts in every national currency in the world.
