The Big Picture

Three key pieces of macroeconomic data came out yesterday that could be significant for America’s prospects:

• The consumer price index increased  by 0.3 percent in April. It’s the biggest monthly jump for inflation in almost a year, and comes on the heels of a 0.2 percent increase in March. 
• New jobless claims dropped to 297,000 in the week ended May 10. That was the lowest number for that weekly figure since May 2007 – or six months before the recession even officially started.
• Industrial production in the U.S. dropped unexpectedly in April. Output at factories, mines and utilities fell by 0.6 percent on the month, although March’s figure was revised upward to a 0.9 percent gain. Will that be a headwind going forward?