were lower as weak economic data from China and expectations of another Fed interest rate hike on Wednesday outweighed support from OPEC+ supply cuts due this month.
pulled off of a three-year low in April as new orders improved slightly and employment rebounded, but activity remained depressed amid higher borrowing costs and tight credit.increased more than expected in March, boosted by investment in non-residential structures, but single-family homebuilding remained depressed.
"Now May is a done deal and June is in play. Strength in the data does mean the Fed is likely to continue its restrictive policy," said Stucky, who worries that the longer the Fed has tighter policies in place, the harder it will be on the economy.
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