Economic Statistics for 16 May 12
The following statistics were released today on the state of the US economy:
The Fed reports industrial production rose 1.1% in April, while capacity utilization increased to 79.2%.
A dip in mortgage rates is causing an increase in refinance applications. MBA reports applications rose 9.2%, with purchases down -2.4%, but refinance applications up 13%.
Housing starts rose 2.6% in April, erasing March’s decline of -2.6%, coming in at a 717,000 annual rate. Building permits were at a 715,000 annual rate.