Economists polled by the Wall Street Journal had predicted a 0.2% increase in the producer price index, MarketWatch said.
The core June inflation index was up 4.8%, down from May’s 5.3%, and was a bigger decrease than expected.
The South remains the region with the highest backlog, despite being the only region in which backlog declined in June.
Full-year revenue expectations soured for a second-straight month, falling from a slight gain to decline. Mike Hockett recaps those figures and more.
Full-year revenue expectations soured for a second-straight month, falling from a slight gain to decline. Mike Hockett recaps those figures and more.
May 2023 sales of merchant wholesalers were $650.2 billion, according to data released by the U.S. Census Bureau.
May orders increased 8.6% over April 2023 but fell short of May 2022 orders, according to The Association For Manufacturing Technology.
New orders for manufactured goods in May increased $1.6 billion, or 0.3%, to $578.0 billion, according to the Census Bureau.
Following a 28-month period of growth, economic activity in the manufacturing sector contracted in June for the eighth consecutive month.
The April data was revised lower, however, indicating businesses remained cautious about investing amid economic uncertainty.
The Biden Administration is now incentivizing the thousands of suppliers that provide the materials and tools used to produce semiconductors.
Slowing consumer spend has led big-box retailers to buy less corrugated and cardboard products and U.S. paper mills to scale back production.
