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Economic Statistics for 16 Aug 12

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

The general business conditions index of the Philadelphia Fed’s Business Outlook Survey improved to-7.1 from July’s -12.9. In other words, the rate of contraction isn’t as bad as it was less month.

Housing starts in July fell -1.1% after rising 6.9% in June. The July pace of 0.746 million units was up 21.5% on a year-ago basis.

Initial jobless claims rose 2,000 last week to 366,000, but the 4-week average, at 363,750, was down 5,500 from the prior week.

The Bloomberg Consumer Comfort Index fell to -44.4, which is its lowest reading since January 29.

E-commerce sales rose 3.3% in the second quarter, with year-on-year growth at 15.3%. E-commerce sales were 5.1% of total retail sales.

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Dale Franks
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