US JOBS US job openings have hit a record high as certain industries cannot find workers. The closing of schools and daycares and increased unemployment benefits have contributed to this bottleneck.
INFLATION Consumer inflation rose 4.2% (year over year) for April. Higher prices for used cars were a leading factor for the large April increase.
US RETAIL SALES Retail sales continue to show a strong consumer with the release of April data. Fueled by increased income and stimulus, household spending points to a recovering economy.
OIL The Colonial Pipeline has resumed operations after a cyber-attack crippled half of the East Coast’s oil supply.
SUPPLY CHAINS Supply chains across multiples industries are facing bottlenecks as the economy re-opens faster than anticipated. Semiconductors, lumber, and packing materials are examples of supply-constrained industries, forcing higher pricing in the short term.
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