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Federal Reserve Governor Michael Barr said the economy is on solid ground, but warned tariff-related supply chain disruptions could lead to lower growth and higher inflation.

A strong majority of business economists now say odds of the U.S. entering a recession in the next 12 months are 50% or less, according to a National Association for Business Economics survey.

Orders placed with U.S. factories for business equipment rose in May for a second month, indicating companies continue to make longer-term investments despite high borrowing costs.

Production at U.S. factories rebounded in April, led by a firm advance at automakers and suggesting some stabilization in goods demand.

U.S. long-term inflation expectations unexpectedly accelerated in early May to a 12-year high and consumer sentiment soured, reflecting growing concerns about the economic outlook.

Sales of new U.S. homes unexpectedly rose in February after a downward revision to the prior month, suggesting the housing market is beginning to stabilize after a tumultuous year

A gauge of manufacturing improved for the first time in six months, though activity remained in contraction territory amid fragile demand and growing inflationary pressures.

The U.S. manufacturing downturn deepened in January, fueled by a further pullback in orders and factory production.

U.S. producer prices dropped in December by the most since the start of the pandemic, extending a monthslong pullback in inflationary pressures and giving the Federal Reserve room to slow the pace of interest-rate hikes.

Data released Jan. 5 reinforced the strength of the labor market, with hiring at U.S. companies far exceeding expectations and applications for jobless benefits falling to a three-month low.