Chicago Business Barometer Unexpectedly Drops To Lowest Level Since November 2022

U.S. Factory Orders Spike In Line With Estimates In May

New orders for U.S. manufactured goods saw a substantial rebound in the month of May, according to a report released by the Commerce Department on Thursday. The Commerce Department factory orders spiked by 8.2 percent in May after plunging by a revised 3.9 percent in April. The sharp increase matched economist estimates.

RTTNews | 3 days ago

U.S. Service Sector Returns To Growth In June

After reporting a slight contraction in U.S. service sector activity in the previous month, the Institute for Supply Management released a report on Thursday showing the service sector returned to growth in the month of June. The ISM said its services PMI rose to 50.8 in June from 49.9 in May, with a reading above 50 indicating growth. Economists had expected the index to inch up to 50.5.

RTTNews | 3 days ago

U.S. Trade Deficit Widens In May As Exports Slump

A report released by the Commerce Department on Thursday showed the U.S. trade deficit widened in the month of May amid a steep drop by the value of exports. The Commerce Department said the trade deficit climbed to $71.5 billion in May from a revised $60.3 billion in April. Economists had expected the trade deficit to increase to $71.0 billion.

RTTNews | 3 days ago

U.S. Weekly Jobless Claims Unexpectedly Edge Modestly Lower

The Labor Department released a report on Thursday showing an unexpected decrease by first-time claims for U.S. unemployment benefits in the week ended June 28th. The report said initial jobless claims edged down to 233,000, a decrease of 4,000 from the previous week's revised level of 237,000. Economists had expected jobless claims to inch up to 240,000.

RTTNews | 3 days ago

U.S. Employment Jumps By 147,000 Jobs In June, More Than Expected

A closely watched report released by the Labor Department on Thursday showed employment in the U.S. increased by more than expected in the month of June. The Labor Department said non-farm payroll employment shot up by 147,000 jobs in June after jumping by an upwardly revised 144,000 jobs in May. Economists had expected employment to climb by 110,000 jobs.

RTTNews | 3 days ago