Economic Data and Growth

Manufacturing activity in New York state expanded in May, with the headline business conditions index rising 8.6 points to 19.6, the highest reading since April 2022. The new orders index increased 3.4 points to 22.7, while the shipments index declined 1.3 points to 18.9, both remaining at high rates of growth for the second consecutive …

U.S. import prices increased 1.9% in April, after rising 0.9% in March, with higher fuel and nonfuel prices driving the increase. Over the year, import prices advanced 4.2% in April, the largest 12-month increase since October 2022. Meanwhile, U.S. export prices stepped up 3.3% in April, driven by higher prices for nonagricultural and agricultural exports. …

Industrial production rose 0.7% in April, while manufacturing output advanced 0.6% after ticking up 0.1% in March. At 97.9% of its 2017 average, manufacturing production increased 1.3% from April 2025. Capacity utilization for manufacturing was 75.8%, up 0.4 percentage points from March and 1.1% over the past year. Capacity utilization remained 2.4 percentage points below …

The Producer Price Index for final demand (also known as wholesale prices) rose 1.4% over the month in April, up from the 0.7% increase in March. Over the year, producer prices jumped 6.0%, up from 4.3% in March and the largest 12-month increase since December 2022. Meanwhile, prices for final demand excluding foods, energy and …

In April, consumer prices increased 0.6% from March and 3.8% over the year, up from the 3.3% annual rise in March and the greatest over-the-year increase since May 2023. Core CPI, which excludes more volatile energy and food prices, rose 0.4% from March and 2.8% over the year, up slightly from the 2.6% 12-month increase …

Building permits fell 10.8% in March and 7.4% over the year. Permits for single-family homes in March decreased 3.8% and 7.9% over the year. At the same time, permits for buildings with five or more units plummeted 23.5% from February and 5.3% over the year. In March, housing starts jumped 10.8% from February and the …

In February, the S&P Cotality Case-Shiller U.S. National Home Price NSA Index recorded a 0.7% annual gain, down from the 0.8% rise in January. The 10-City Composite increased 1.5%, down from 1.7% the previous month, while the 20-City Composite rose 0.9% year-over-year, down from 1.2% in January. Among the 20 cities, Chicago posted the highest …

Consumer confidence inched up 0.6 points in April to 92.8. 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, edged down 0.3 points to 123.8. Meanwhile, …

In April, Texas factory activity expanded at a faster pace after weakening the prior month. The production index increased from 6.8 to 19.0, climbing well above the series average of 9.6. The new orders index stepped up 3.8 points to 9.9, while the capacity utilization index jumped 12.6 points to 19.8, both above the series …

Manufacturing activity in the Fifth District rose in April after staying the same in March, with the composite manufacturing index increasing from 0 to 3. At the same time, the local business conditions index advanced from -5 to 10 in April. Despite an improvement in the headline index in April, manufacturers are less optimistic about …