Economic Barometer: May 2023

• The producer price index, which measures prices for final demand goods and services, increased 2.3% from April 2022 to April 2023 — the lowest level of growth since January 2021.
• Core consumer inflation remains stubbornly high, due largely to shelter prices, according to the latest Consumer Price Index report.
• This infographic shows how quickly the federal funds rate has been raised during the past year.
• U.S. job openings fell in March to their lowest since April 2021, while layoffs rose to 1.8 million, their highest level since December 2020.
• CEOs remain largely pessimistic about what’s ahead for the economy, according to the latest Conference Board data.
• Experts with OMA Connections Partner RSM say the dispute over the federal debt ceiling is eroding consumer and corporate confidence, as evidenced by the increased demand for short-dated securities.

There’s still time to register for RSM’s May 16 economic outlook webcast. Register here. 5/11/2023