Retail Sales up.

Initial Jobless Claims (week ended 6/6/2015)

– Initial Claims seasonally adjusted  279,000. Previous was 277,000
– Initial Claims unadjusted, totaled 274,880 an increase of 44,210 from previous
– 4-week Moving Average    278,750. Previous was 275,000.

Initial Jobless Claims remain low indicating a healthy jobs market.

 
Retail Sales (May 2015)

– Retail Sales month/month +1.2%. Previous was +0.2%
– Retail Sales less autos month/month  +1.0%. Previous was +0.1%
– Less Autos & Gas month/month +0.7%. Previous was +0.2%.

This gain of +1.2% follows months of +0.2%, +0.9% and -0.5%.

 
Import and Export Prices (May 2015)

– Export Prices month/month +0.6%. Previous was -0.7%
– Export Prices year/year   -5.9%. Previous was  -6.3%
– Import Prices month/month  +1.3% Previous was -0.3%
– Import Prices -year/year   -9.6%. Previous was -10.7%.

Oil prices were up and prices of exports wheat and corn were down.  These price trends will hurt 2ndQ GDP. Domestic oil production fell when oil prices fell. That ample supply or ready to pump oil will act as a cap on crude prices.

 

Business Inventories (April 2015)

Inventories month/month +0.4%. Previous was +0.1%.

This is a GDP component.