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Economic Statistics for 5 Sep 12

The following US economic statistics were announced today:

Nonfarm business productivity for the second quarter was revised upwards to 2.2%. Unit labor costs were revised downwards to a 1.5% increase. These revisions are in line with the earlier revisions to 2nd Quarter GDP.

The MBA reports mortgage applications fell by -2.5% last week, with purchases down -0.8%, and re-finance apps falling by -3.0%.

In weekly retail sales Redbook reports a strong 2.5% year-over-year sales increase, the strongest since June. ICSC-Goldman Store Sales fell -0.4% in the latest week, but is still up 3.7% year-on-year, the strongest increase of the summer.


Dale Franks
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