After sliding the previous two months and in three of the past four months, sales of existing homes increased slightly in May. May existing home sales came in at 4.030 million unit rate, up 0.8% from April but down 0.7% from the 4.060 million unit rate in May 2024.
Freight rates for the trucking transportation industry continued to climb in May, now up for the fourth straight month. The May inferred freight rates (a simple equation of cost of shipments divided by total shipments) increased to 3.143.
Domestic raw steel production increased sharply again last week, now up seven out of the last eight weeks. U.S. mills produced an estimated 1,785k tons at a 79.5% utilization rate; this is up from 1,757k tons and a 78.2% rate previously.
Domestic raw steel production increased sharply again last week, now up six out of the last seven weeks. U.S. mills produced an estimated 1,757k tons at a 78.2% utilization rate; this is up from 1,744k tons and a 77.6% rate previously.
After sliding for five consecutive months, confidence of U.S. consumers rebounded in May. The May Consumer Confidence Index came in 98.0, up 12.3 points from April.
After sliding the first two months of the year, new home sales have now increased in back-to-back months. New home sales came in at a 743,000 unit rate in April, up 10.9% from March and up 3.3% from the 719,000 unit rate in April 2024.
Domestic raw steel production increased sharply again last week as the mills ramp up to offset the loss of imports. U.S. mills produced an estimated 1,740k tons at a 77.5% utilization rate; this is up from 1,725k tons and a 76.8% rate previously.
Domestic raw steel production increased sharply again last week, now up four out of the last five weeks. U.S. mills produced an estimated 1,725k tons at a 76.8% utilization rate; this is up from 1,706k tons and a 76.0% rate previously.
Increased activity from consumers continued in April, as pre-tariff buying bled over from March. April U.S. light vehicle sales came in at a 17.3 million unit rate, down slightly from March but up considerably from April 2024.
New home sales increased for the second consecutive month in March and was at its highest monthly rate since September. March new home sales came in at a 724,000 unit rate, up 7.4% from February and up 6.0% from the 683,000 unit rate in March 2024.
