Free Markets, Free People

Economic Statistics for 1 Jul 15

Motor vehicle sales weakened in June, dropping -3.4% from May, but were still strong at a 17.2 million annual rate.

Challenger reports that Layoff announcements rose to 44,842 in June from 41,034 in May, well up from an unusually low 31,434 in June 2014. 

ADP estimates that private payrolls rose a larger-than-expected 237,000 in June, against analysts’  expectations for 220,000.

Construction spending rose a solid 0.8% in May, well above the the analysts’ expectations of a 0.5% gain.

The PMI Manufacturing Index fell -0.4 points to 53.6 in June, indicating some slowing economic growth.

The ISM manufacturing composite index for June showed some acceleration in manufacturing, rising 0.7 points to 53.5.

Gallup’s U.S. Job Creation Index remained high in June, unchanged from the May reading at 32.

Gallup’s Payroll to Population Rate rose 1.0% to 45.5% in June, the highest rate since 2012.

The MBA reports that mortgage applications fell -4.7% last week, with purchases down -4.0% and refis down -5.0%.

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