Economic Insights – June 2011
As we analyze the state of the economy this month, it’s easy to be distracted by the weaker economic numbers we’ve started seeing over the past several weeks.
- Back in early March, the four-week moving average for initial unemployment claims hit a recovery low of 389,000; but by the end of May, claims were above 440,000.
- Manufacturing production dropped the most in April for any month since the start of the recovery.
- In May, we witnessed declines for both the Empire State index and Philly Fed index, which are both measures of manufacturing act.....