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Economic Statistics for 1 Aug 13

Here are today’s statistics on the state of the economy:

Overall motor vehicle sales fell 0.2% in July, to a still strong 15.7 million annual rate. Despite that slight drop, most automakers saw strong sales gains on a year-over-year basis, with GM, Ford and Chrysler all seeing double digit gains.

The Challenger Job-Cut Report shows July layoffs fell to 37,701 from June’s 39,372.

Initial jobless claims fell 19,000 to 236,000. The 4-week average fell 4,000 to 341,250, while continuing claims fell 52,000 to 2.951 million.

The Markit PMI manufacturing index rose 2 points to 53.7 in July.

The Bloomberg Consumer Comfort Index rose 0.3 points to -27.0 in the latest week.

The ISM manufacturing index rose a sharp 5 points in July to 55.4, the strongest reading in more than 2 years.

Construction spending fell by -0.6 in June, well below expectations of a 0.4% increase.

For the July 31 week, the Fed balance sheet dropped $2.8 billion, with total assets of $3.572 trillion.

The Fed reports that M2 money supply rose by $16.8 billion in the latest week.

Dale Franks
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