Sales of new single-family U.S. homes again defied predictions of a slowdown in May and rose 4.6 percent...
Still, compared with a year earlier, the May sales pace was down 5.9 percent.
The May median sales price for new single-family homes fell 4.3 percent from April to $235,300, a figure that was nonetheless 3.1 percent above the year-ago median price of $228,300.
The closely watched supply of new homes for sale at the end of May fell 0.7 percent to 556,000 from a downwardly revised 560,000 in April, which was a record level.
The homes-for-sale figure represented a 5.5 months' supply at the current sales pace, compared to a 5.8 months' inventory in April.
The National Association of Realtors (NAR) said sales of existing homes slipped to an annualized rate of 6.67 million units, 1.2 percent below April's pace and 6.6 percent below the pace of 7.14 million units a year ago...
The Conference Board said its consumer confidence index rose to 105.7, from an upwardly revised May reading of 104.7, higher than a median forecast by economists polled by Reuters for a reading of 103.5...
Separately, the Federal Reserve Bank of Richmond said its monthly composite manufacturing index rose to 4 in June from 1 in May.
Also the Chicago Fed said on Tuesday its Midwest manufacturing index slipped in May to 106.0 from April's downwardly revised 106.2.
Retail sales, which reflect sales at brick-and-mortar businesses including department stores and supermarkets, rose 0.1 percent in May from a year earlier, the trade ministry said in Tokyo. The median forecast of 21 economists surveyed by Bloomberg News was for sales to drop 0.6 percent...
Fuel sales surged 7.1 percent, accounting for almost 70 percent of the gains in retail sales, the trade ministry said. Prices at the pump climbed 11 percent in May from a year earlier, according to the Tokyo-based Oil Information Center. That adds 715 yen ($6.16) to the cost of filling the tank of a Corolla compact, Toyota Motor Corp.'s top-selling vehicle...
Sales of electronics, including flat-screen televisions and DVD recorders, rose 0.4 percent in May
The US Commerce Department reported yesterday that personal income increased 0.4 percent in May, disposable personal income increased 0.3 percent and personal consumption expenditures increased 0.4 percent. The PCE price index increased 0.4 percent in May, compared with an increase of 0.5 percent in April. The PCE price index excluding food and energy increased 0.2 percent, the same increase as in April.
Reuters summarises that report, suggesting that "core inflation remains contained" but Americans still "borrowed more and saved less to support their shopping habits", pointing to a personal saving rate of negative 1.7 percent.
