- Falling energy prices pushed U.S. consumer prices lower in May for the first time since July of last year, the Labor Department reported Wednesday. The Consumer Price Index decreased 0.1 percent in May, The May level of 194.4 (1982-84=100) was 2.8 percent higher than in May 2004.
- The government upgraded its assessment of Japan's economy in a monthly report on Wednesday for the first time in nearly a year, citing improvements in personal consumption and jobs.
- OPEC ministers Wednesday agreed to boost crude oil output levels by 500,000 barrels a day to 28 million, Bloomberg reported.
- May US Industrial Production at U.S. factories, mines and utilities rose 0.4% in May, the Federal Reserve said Wednesday
- Business inventories rose 0.3% in April, and business sales rose 1.2% the Commerce Department said Wednesday.
- The Green Coffee Association said that U.S. coffee stocks were up 83,722 bags in May to 5.87 million bags.
- The U.S. DoE said that crude oil supplies were down 1.8 million barrels last week to 329.0 million barrels. Unleaded gasoline supplies were down 900,000 barrels and heating oil supplies were up 1.4 million barrels.
- An index of manufacturing activity in New York increased from -11.1 to +11.7 in June, stronger than expected.
- Australia's rainfall in the first four months of 2005 was the second lowest total since records began in 1910.
- Industrial production in China increased 16.6% in May from a year ago to a new record high
- The unemployment rate in the U.K. remained at 4.7% in the three months from February to April.
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