4644 Outlook

Economic Outlook: June 18, 2021

Jun 18, 2021  | Ep4644

Americans are spending money now on services and travel destinations and less in stores. ---

Travel is the new ‘it item’ as American’s take the wheel even as retail sales were driven 1.3 percent lower last month. Fewer auto sales also contributed to the decline.

The producer price index, a key inflation indicator, jumped 0.8 percent in May as wholesale prices were led by rising food costs.

Home construction rose 3.6 percent last month even with builders fighting high lumber prices. However, lumber has lost half its value since peaking May 10.

Creighton University’s Rural Mainstreet Index kept above growth neutral for the seventh straight month with a reading of 70. However, the rating was down from May’s record high.

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