This just in: CEO Chris Shuba in Financial Planning

Read the highlights of this week’s commentary from Helios:

  • U.S. retail sales, unadjusted for inflation, marginally increased in May by 0.1%, following a revised decline of 0.2% (from 0.0%) in April. Control group retail sales, which are used to calculate GDP, rose by 0.4% after dropping 0.5% in April, prompting some analysts to predict a slowdown in GDP growth for the second quarter.
  • U.S. industrial production in May rose by 0.9%, surpassing expectations and marking a positive turn for the sector. Manufacturing, accounting for three-fourths of the total, also grew by 0.9%, driven by an increase in consumer goods production. This contrasts with other economic indicators suggesting financial strain among consumers, such as slowing retail sales.
  • In June, U.S. service sector activity surged to its highest level in over two years, with the S&P Global Flash Services Business Activity Index climbing to 55.1 from 54.8 in May. Concurrent growth in manufacturing helped push the S&P Global Composite Purchasing Managers’ Index to a 26-month high. Additionally, the prices received measure fell to its second-lowest level since 2020.

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