U.S. Review
More Evidence of a Tightening Labor Market
• While small business confidence dipped in June, the index remains above the range where it appeared to be stuck between 2011 and 2013.
• Firms are still looking to hire, with the NFIB hiring plans index climbing 2 points and the JOLTS report showing job openings in May reaching the highest level since mid-2007.
• Minutes from the June FOMC meeting showed a split among members over inflation, with some still worried about it running too low and others seeing upside risks. The FOMC also discussed the potential steps for policy normalization and preferred tools for eventually raising rates.
Global Review
The Global Economy Is Not Out of the Woods Yet
• Weak economic numbers across the global economy continue to dampen the prospects for economic growth across the world. Although the U.S. economy is going to show a relatively strong recovery from its dismal performance during the first quarter of the 2014, the rest of the world does not seem to be taking notice of that improvement.
• The United Kingdom joined Germany in reporting dismal industrial production numbers in May, underscoring the delicate state of growth in Europe at a time when geopolitical risks continue to threaten economic performance across the
world.
Read the full report: Economic Research