Quick Overview

• Institute of Supply Management's index of U.S. manufacturing dropped from 54.4 to 53.8 in June
  

• Inflation worries took their toll on parts of the U.S. Midwest and south-central region. An index of June business conditions took its biggest one-month tumble in more than six years, according to a nine-state survey released by Creighton University on Monday.
  

• The Commerce Department said that construction spending was at $1.21 billion in May, down 0.4% from April's rate.
  

• Japans Tankan survey increased from +20 in May to +21 in June.
  The unemployment rate in the Euro zone improved from 8.0% to 7.9% in May. In the EU-25.
  

• Manufacturing in the Euro zone increased from 57.0 to 57.7 in June, the highest score in six years.
  

• Manufacturing for the U.K. increased from 53.5 to 55.1 in June, the highest in almost two years.
  

• Retail sales in Australia were down 0.3% in May.
  

• China has squeaked by Britain by the tiniest of margins to become the world's fourth-largest economy, according to the World Bank's latest calculations.
  

• The USDA said there were 60.9 million hogs and pigs in inventory on June 1st, up 0.3% YoY.
  

• The U.S. and Canada tentatively agreed to a seven-year trade agreement for softwood lumber.
  

• The U.S. spring wheat crop is suffering from dry conditions in the Dakotas and northern Minnesota.
  

• Long-range weather outlooks are forecasting hotter and drier conditions for the Midwest.