2015 May Insight Report

STILL WAITING FOR SPRING SNAPBACK

Economic Data

May 2015’s economic reports (which largely reflect economic activity in April 2015) extended the recent theme of a slower than expected snapback from the first quarter economic weakness, which was due largely to temporary factors (unusually harsh winter weather in areas of the country, a major West Coast port strike, the strong dollar’s impact on trade, and a sharp reduction
of oil-related capital expenditures)…