U.S. Review
Mixed Results from Economic Data Releases This Week
• Retail sales increased a lower-than-expected 0.3 percent in May, with the underlying details suggesting a slower pace of sales growth than originally estimated. Discretionary spending categories such as general merchandise, clothing stores and restaurants posted the largest declines.
• JOLTS showed that the job openings rate rose to 3.1 percent from 2.9 percent in April. There were 4.5 million job openings in April, up from 4.2 million in March. The level of job openings is the highest since September 2007.
• Initial jobless claims unexpectedly rose to 317,000 in the week ending June 7 from 313,000.
Global Review
Growth Continues to Be Uneven
• The world economy continues to show uneven growth acrossdifferent countries and regions. Parts of the developedcountries are starting to see some stronger rates of growth,with the American and British’s economies leading the charge.
• Although many emerging markets are expected to continue togrow during the next several years, this growth likely will notbe as strong as what we saw during the first decade of thiscentury.
Read the full report: Economic Research
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