- U.S. Consumer confidence dropped to a new low for the year last week, pushed down again by the high gasoline prices and a weak job market, ABC News and the Washington Post said on Tuesday.
- A surge in tax revenues has put the Bush administration years ahead of schedule in a bid to halve the nation's budget gap by 2009, U.S. Treasury Secretary John Snow said.
- The U.S. Census Bureau said that housing starts were at an annual rate of 1.849 million units in April, down 7.4% from March's pace. YoY housing starts are down 1%.
- The U.S. producer price index was up 0.9% in April, slightly more than expected, and up 4.0% YoY. Excluding food and energy costs however, prices were up only 0.1% in April and up 1.5% YoY, less than expected.
- The Federal Reserve said that U.S. industrial production increased 0.8% in April, more than expected.
- Consumer prices in the U.K. were up 0.6% in April and up 2.0% YoY
- Investor confidence in Germany dropped from 62.7 to 50.0 in May.
- The Green Coffee Association said that U.S. coffee stocks were down 76,002 bags.
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