If you're in to economic data, then today's your day in the US. Multiple economics reports were released this morning, including industrial production, jobless claims, Empire Manufacturing, CPI, and several others. On the positive side, the May Empire State Manufacturing Survey showed significant gains for general business conditions, with an 18 point gain. The index is at its highest level in four years, led by new orders and shipments. Also very encouraging, jobless claims plunged 27,000 to 297,000. That's the lowest level since May 2007 and the biggest annual decline since last November. On the other hand, industrial production fell an unexpected 0.6% in April. Still, the annual increase is running at a healthy 3.5%. Most likely, April's dip isn't part of a larger trend shift. All in all, the US economy continues to improve at a modest rate. (VIEW LINK) (VIEW LINK) (VIEW LINK)
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