The U.S. unemployment rate in May hit its lowest level since 2000, while other reports showed increased movement in the nation’s manufacturing sector and spending on construction hit a record high.
Orders for long-lasting durable goods fell in April, but a closely watched proxy of business investment moved higher. And although sales of existing homes declined, consumer sentiment remains strong.
A first look at the nation’s manufacturing for this month shows business conditions improved just a little from the previous month, remaining strong, while a separate report showed that although new homes sales fell last month, they posted a double-digit gain compared to a year ago.
Industrial production rose again in April for the third consecutive month, according to Federal Reserve figures issued Wednesday, while separate reports show a decline in new home sales and a smaller gain in retail sales.
Two reports about the nation’s manufacturing sector during April showed it continued expanding, though they differed in just how much activity increased overall. Another report indicated activity in the construction sector was volatile.
Daimler Trucks North America has announced three high-level appointments to its manufacturing and remanufacturing operations.
New orders for long-lasting manufactured durable goods jumped more than expected in March, but analysts pointed to some concerns deeper in the Commerce Department report. Separate reports showed improvements in new homes sales as well as in consumer confidence.
The latest economic reports show a further increase in U.S. manufacturing output and a firm footing for the overall economy, but raised some questions about where employment and labor are going, while there were mixed results for existing-home sales.
Wabco Holdings announced that it will locate its new Americas headquarters in Auburn Hills, Michigan, and is currently building the facility to house it.
The latest numbers about the health of the U.S. economy showed continued growth when it comes to industrial production, housing starts, and retail sales, indicating increasing energy for the first part of the second quarter.