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Economic Statistics for 04 Sep 13

August US Auto sales were the best in seven years, with GM sales up 15% and both Ford and Chrysler up 12%. Toyota showed a 22.8% gain, while Nissan showed a 22.3% increase. VW posted a -1.6% decline.

The MBA reports mortgage apps rose 1.3% last week, with sales down -0.4% but re-fis up 2.0%.

In weekly retail sales, ICSC-Goldman reports a -0.6% sales decline for the week, and a week 1.8% increase from last year. Conversely, Redbook reports a strong 4.7% year-on-year same-store retail sales increase. So, the two major reports of weekly retail sales activity are wildly divergent.

The Census Bureau’s quarterly services survey shows information revenue rose 0.6% in 2Q 2013, and is up 4.2% from a tear ago.

The Fed’s Beige Book reports that economic activity continues to increase at a "modest to moderate pace". Translation, economic growth is still sluggish and below trend in this  fourth year of the "recovery".

The Gallup U.S. Job Creation Index rose a point to 22 in August.

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