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US Import Prices declined by 0.2%

Import prices declined 0.2 percent in June. For the second consecutive month the decline was  driven by lower fuel prices. Despite the monthly decrease in June, the price index for U.S. imports rose 1.5 percent over the past 12 months. The last over-the-year decline in import prices was a 0.2-percent decrease for the 12-month period ended in October.

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Empire State Manufacturing Index fell to 9.8

Business activity grew modestly in New York State, according to firms responding to the July 2017 Empire State Manufacturing Survey. The headline general business conditions index fell ten points to 9.8. The new orders index moved down to 13.3, and the shipments index fell to 10.5, suggesting that orders and shipments continued to grow, though at a somewhat slower pace than in June. Delivery times continued to lengthen, and inventory levels were fairly steady.

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U.S. Industrial Production up by 0.4%

U.S. factory production increased in June in line with analysts’ forecasts, as demand for natural resources, automobiles and machinery rebounded, Federal Reserve data showed Friday. Factory output was up 0.2 percent (est. 0.2% gain) after falling 0.4%. Total industrial production, which also includes mines and utilities, increased 0.4% (est. 0.3% gain) after revised 0.1% advance. Capacity utilization, measuring the amount of a plant that is in use, climbed to 76.6% (est. 76.8%) from 76.4%.

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U.S. CPI unchanged in June

The Consumer Price Index for All Urban Consumers (CPI-U) was unchanged in June on a seasonally adjusted basis, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index rose 1.6 percent. The energy index declined again in June, falling 1.6 percent; this offset an increase in the index for all items less food and energy. All the major energy component indexes declined, with the gasoline index falling 2.8 percent. The food index was unchanged in June, with the index for food at home declining slightly as five of the six major grocery store food group indexes decreased.

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