Congress must pass a new funding package by Oct. 1 or the government will shut down. Lawmakers will likely pass a Short-term legislation to keep the government funded at the end of September and hold negotiations closer to Christmas for a new budget deal, 2016 spending and an increase in the debt ceiling. Source The Hill
- U.S. industrial production fell in April, dragged by a big drop in factory output as production of autos and auto parts continued to slide.
- The Federal Reserve says industrial output — reflecting total production at factories, utilities and mines — dropped 0.5% in April.
- Industrial production also fell 0.5% in February.
British Steel Ltd.’s three-year run as a company ended on Wednesday, putting 5,000 jobs at risk and piling fresh misery on the U.K.’s manufacturing base. Source: Bloomberg
Japan’s goods trade surplus plunged 90.3 percent in April from a year earlier to 60.4 billion yen ($546 million), hit by weak exports to China amid U.S.-China trade tensions. Source: Mainichi
