Free Markets, Free People

Economic Statistics for 8 Aug 12

The following statistics were released today on the state of the US economy:

2nd Quarter nonfarm productivity rose an annualized 1.6%, primarily on a slowing in hours worked. Unit labor costs rose an annualized 1.6% on slower compensation growth.

The MBA reports mortgage applications fell by -1.8%. Purchase apps fell -1.0%, while re-financing apps fell -2.0%.

Total consumer credit outstanding rose $6.5 billion in June, driven by students who are aggressively—and probably unwisely—taking out loans.

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Dale Franks
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2 Responses to Economic Statistics for 8 Aug 12

  • Total consumer credit outstanding rose $6.5 billion in June, driven by students who are aggressively—and probably unwisely—taking out loans.

    I thought that being a student was supposed to make one WISER and smarter. :-)
    Perhaps our modern education system is making them regress. :-(