Economic Data and Growth

Building permits decreased 3.0% in June and 2.3% over the year. Permits for single-family homes in June declined 2.4% and 0.2% over the year. At the same time, permits for buildings with five or more units fell 4.9% from May and 6.3% over the year. In June, housing starts jumped 19.0% from May and were …

The NFIB Small Business Optimism Index increased 2.1 points to 97.4 in June, remaining slightly below the 52-year average of 98. June’s advance was due to an improvement in expectations for better business conditions and real sales expectations. Of the 10 components included in the index, seven increased and three decreased. Meanwhile, the Uncertainty Index …

U.S. import prices increased 0.3% in June after rising 1.7% in May, with higher nonfuel prices offsetting lower prices for fuel imports. Over the year, import prices advanced 7.1% in June, the largest 12-month increase since August 2022. Meanwhile, U.S. export prices declined 0.6% in June, driven by lower prices for nonagricultural exports. Over the …

Manufacturing activity in New York state expanded at a faster pace in July, with the headline business conditions index rising 9.9 points to 15.6. The new orders index surged 18.7 points to 22.2, while the shipments index jumped 15.8 points to 24.4, a four-year high. Unfilled orders were unchanged at 5.0, while inventories moved up …

In July, Philadelphia’s regional manufacturing activity expanded to its highest level since November 2021, with the index for general business activity climbing from 10.3 to 41.4. This month, 53.1% reported increases, while 11.7% reported decreases. New orders rose, moving up from 27.3 to 37.0, while shipments advanced from 14.9 to 33.7. Meanwhile, the employment index …

Industrial production edged up 0.1% in June, while manufacturing output stayed the same after ticking up 0.1% in May. At 97.9% of its 2017 average, manufacturing production moved up 1.1% from June 2025. Capacity utilization for manufacturing was 75.7%, down slightly from 75.8% in May but up 1.1% over the past year. Capacity utilization remained …

The Producer Price Index for final demand (also known as wholesale prices) declined 0.3% over the month in June after rising 0.6% in May. Over the year, producer prices increased 5.5%, down from the 6.0% gain in May. Meanwhile, prices for final demand excluding foods, energy and trade services climbed 5.1% from June 2025, a …

In June, consumer prices decreased 0.4% from May, the largest monthly decline since April 2020, but rose 3.5% over the year, down from the 4.2% annual rise in May. Core CPI, which excludes more volatile energy and food prices, stayed the same in June but increased 2.6% over the year, down from the 2.9% 12-month …

In April, the S&P Cotality Case-Shiller U.S. National Home Price Index recorded a 0.8% annual gain, up slightly from a 0.7% rise in March. The 10-City Composite increased 1.8%, up from 1.5% the previous month, while the 20-City Composite moved up 1.1% year-over-year, up from 0.9% in March. Chicago again posted the highest annual gain …

Consumer confidence inched up 0.6 points in June to 91.2. Among its components, the Present Situation Index contracted while the Expectations Index improved as customers’ concerns regarding the present situation worsened and concerns about the future eased. The Present Situation Index, reflecting current business and labor market conditions, declined 3.0 points to 116.4. Meanwhile, the …