Free Markets, Free People

Economic Statistics for 16-17 Jul 14

In weekly retail sales, Redbook reports a 4.1% increase from the previous year. ICSC-Goldman reports a weekly sales increase of 0.1%, and a 4.5% increase on a year-over-year basis.

The government’s retail sales figures for June show a 0.2% sales increase, with sales less autos, and less autos and gas both up 0.4%.

The New York Fed’s Empire State manufacturing index rose from 19.28 to 25.60 for July.

Business inventories rose 0.5% in May, while a 0.4% rise in business sales leaves the stock-to-sales ratio unchanged at 1.29.

The MBA reports that mortgage applications fell -3.6% last week, with purchases dowm -8.0% and refinancings down -0.1%.

Producer prices rose a sharp 0.4% in June, but less food and energy rose only 0.2%. On a year-over-year basis, the PPI rose 1.9% at the headline level, and 1.7% less food and energy.

The Treasury reported that net foreign demand for US securities rose $19.4 billion in May.

The Fed reported that industrial production rose 0.2% in June, while capacity utilization in the nation’s factories was unchanged at 79.1%.

The Atlanta Fed’s Business Inflation Expectations survey for July shows an expected inflation rate of 1.9% for the next year.

The National Association of Home Builders’ Housing Market Index rose 4 points to 53 in July.

In today’s Beige Book report from the Fed, us economic growth was said to be Modest to Moderate.

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