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Newspaper
Lawrence Journal World
Location
Lawrence, Kansas, United States of America
Date
Jun 01, 1992
Page
9
U S manufacturers report a May PMI of 56.3 with gains in production new orders and exports. Employment at a multi year high as overall economy shows momentum rising from April.
Quotations from Midland Elevator and St Joseph cover grains cattle hogs and livestock markets in Omaha and New York. Prices show mixed movement with steers and cows mostly lower while hogs hold near steady and stock indices slip as investors weigh stronger economy and higher interest rates.
Americans saw incomes and spending rise modestly in April signaling a tentative recovery. Incomes advanced 0.1 percent to a seasonally adjusted annual rate of 4.99 trillion while consumer outlays rose 0.3 percent to 4.04 trillion. Despite consistent gains, income growth remains muted with spending outpacing income slightly, lowering the saving rate.
Washington AP reports total construction spending at a seasonally adjusted annual rate of 418.8 billion in April, down 0.3 percent from March's 420 billion. Residential work led gains with single family up 0.7 percent and multi family up 14.2 percent. non-residential fell 1.1 percent and government construction dropped 2.6 percent led by education and hospitals.
CHICAGO AP For the first time in a quarter century the Consumer Electronics Show opened to consumers. About 100,000 people paid $8 to $10 for a look at products in more than 900 exhibits. The four day event drew about 50,000 retailers buyers and reporters overall. The shift was an economic decision as industry sales growth slowed.
The dollar drifted lower versus major currencies in early European trade as Tokyo and London FX quotes show the dollar at 128.78 yen, along with declines in several European rates. Gold prices softened with London dealers placing a midmorning bid near 336.80 per ounce, while Hong Kong and Zurich values also slid. A separate consumer electronics note highlights shop displays and shopper feedback at an electronica event, with buyers and sellers weighing information and prices.
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