In May, the U.S. federal government spent $316 billion more than it took in, a deficit 14 percent greater than in May 2024, the treasury department reported, deepening the fiscal year’s loss so far to $1.36 trillion.
Tag: U.S. economy
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ECONOMIC UPDATE—MARKET OVERVIEW
Today, the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) reported that builder sentiment fell by 2 points in June from May to 32. Last June it was at 43, and a number below 50 is ranked negative.
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SPOTLIGHT: BIGS GETTING BIGGER
Plans for several new mergers and acquisitions have been paused since Donald Trump’s 2 April “Liberation Day” tariff announcement, the Financial Times reported.
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SPECIAL REPORT: TRUMP’S TARIFFS, THE UPS AND DOWNS, FOR BETTER AND FOR WORSE
The Organization for Economic Cooperation and Development (OECD) has cut its forecast for U.S. economic growth by 25 percent this year, dropping it from 2.2 percent to 1.6 percent, warning that the biggest loser in Donald Trump’s trade war will be the U.S. itself.
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TOP TREND 2023, OFFICE BUILDING BUST: OFFICE REAL ESTATE MARKET REACHES TIPPING POINT
This year, the square footage of U.S. office building demolitions and conversions to other uses will exceed that of new office construction for the first time this century and probably longer, data service CBRE reported.
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SPOTLIGHT: U.S. ECONOMIC BRIEFS
As expected, U.S. factories received fewer new orders in April after customers surged their inventories in March to beat Donald Trump’s 2 April “Liberation Day” tariff announcement.
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IS OFFICIAL U.S. INFLATION DATA STILL ACCURATE?
Last week, the U.S. Bureau of Labor Statistics (BLS) told a group of economists that a federal hiring freeze had left it unable to contact the usual number of businesses it uses to monitor price changes.
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PRIVATE CREDIT COULD BE “LOCUS OF CONTAGION” IN A FINANCIAL CRISIS
Lending by private equity firms and other nonbank financial businesses has become so widespread that it could become a “locus of contagion” in any new financial crisis, a research group that includes researchers from the U.S. Securities and Exchange Commission and Moody’s Analytics said last week.
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WALL STREET DISCOVERS THAT THE U.S. NATIONAL DEBT IS A PROBLEM
Now that the U.S. government’s interest payments on the national debt have topped $1 trillion—about 14 percent of the annual federal budget—more of the financial industry’s leaders are speaking, and speaking more urgently, about it.
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U.S. MANUFACTURING SLOWS FURTHER IN MAY
U.S. factories’ output diminished a little more last month as manufacturers hesitated to make commitments amid Donald Trump’s swirling trade policies, The Wall Street Journal reported.
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