Life on the Road – Trucking News Blog

May retail sales: best in 16 months. A Commerce Department report delivered another sign of a healthier economy: retail sales were up 1.4% in May compared to April, double the gain that economists had expected.

Federal deficit shrinking. More good news: at midweek, the Treasury Department reported that the federal deficit stood at $148.5 billion through May, 34.6% less than a year earlier. The Congressional Budget Office forecasts the deficit at $177 billion by the end of the federal budget year on September 30. That would mean a 28.7% reduction of last year’s deficit of $248.2 billion.

NASDAQ at 6-year high. The tech-heavy index closed Friday at 2626.71. The Dow wrapped up the week with its best 3-day stretch since 2004, and the S&P 500 also made up last week’s losses.

The National Average for Diesel rose a little from $2.792 to $2.805.