Free Markets, Free People

Economic Statistics for 1-2 Jul 14

Motor vehicle sales rose 1.2% in June to a 17.0 million annual rate. That’s the strongest rate since July 2006.

ICSC-Goldman reports retail sales rose 1.0%, while the rear-over-year rate rose to 4.6% in the latest week. Conversely, Redbook says year-over-year retail sales growth fell to 3.1% in the latest week.

The Markit PMI manufacturing index rose 0.3 points to 57.3 in June.

The ISM Manufacturing index fell 0.1 point to 55.3 in June.

Construction Spending rose a less-than-expected 0.1% in May. Spending rose 6.6% on a year-ago basis.

The J.P. Morgan Global Manufacturing PMI rose 0.5 points to 52.7 in June.

The Gallup Economic Confidence Index fell -1 point to -15 in June.

The MBA reports that mortgage application fell 0.2% in the latest week, with purchases down -1.0%, but re-fis up 0.1%.

The ADP national employment report estimates that a strong increase of 281,000 private payroll jobs were created in June.

Gallup’s Job Creation Index is unchanged at 27 in June.

Gallup’s Payroll to Population employment rate rose 0.5% to 45.0% in June.

Factory orders fell 0.5% in May, but nondefense orders rose 0.2%. A 0.7% rise in nondefense capital goods excluding aircraft is a positive.

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