The April data was revised lower, however, indicating businesses remained cautious about investing amid economic uncertainty.
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The Biden Administration is now incentivizing the thousands of suppliers that provide the materials and tools used to produce semiconductors.
While U.S. cutting tool consumption fell after a spike, market indicators remain positive with growth expected, according to USCTI and AMT.
Slowing consumer spend has led big-box retailers to buy less corrugated and cardboard products and U.S. paper mills to scale back production.
Overall May construction input prices were 3.7% lower than a year earlier.
Most of the central bank's committee members expect at least two more rate hikes to come in 2023.
The news comes the same day as the Federal Reserve announces that interest rates will remain unchanged for now.
The index for shelter was the largest contributor to the monthly all items increase, according to the Bureau of Labor Statistics.
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Sales of merchant wholesalers, after adjustment for seasonal variations and trading day differences but not for price changes, were $652.8 billion.
Distributors keeping a close eye on major projects that could impact product demand may benefit from a new government website mapping investments.
New orders of manufacturing technology totaled $336.7 million, according to the latest U.S. Manufacturing Technology Orders Report.
Mentions of reshoring were substantially more common in 1Q earnings calls compared to a year earlier. What are the factors driving the hype?
The U.S. Census Bureau shows new orders for manufactured goods, inventories and unfilled orders have increased, while shipments remain down.
Construction spending during April was estimated at a seasonally adjusted annual rate of approximately $1.9 trillion.
Pay for S&P 500 company CEOs in 2022 rose just 0.9% to $14.8 million in median compensation, according to an AP study.
The Institute for Supply Management’s monthly Purchasing Managers Index (PMI) remained in contraction territory for a seventh straight month in May.
Economists polled by Reuters had expected China's manufacturing PMI to increase slightly in May.
The U.S. Census Bureau also said that data for March was revised higher to show that core capital goods declined 0.6% as opposed to the previously reported drop of 1.1%.
A new government estimate says U.S. real gross domestic product increased at an annual rate of 1.3% in 1Q 2023, down from 2.6% in 4Q 2022.
