Free Markets, Free People

Economic Statistics for 16-17 Jul 15

I missed posting yesterday, so this post will be a bit longer than most.

The Philadelphia Fed Surveys’s big jump in June was a one-time blip, as the July index fell to 5.7 from 15.2.

The housing market index was unchanged at 60 in July, but it is still the strongest reading since November 2005.

The Treasury reports that Net Foreign Demand for Long-Term US Securities jumped $93.0 billion in May on strong foreign interest in both US Treasuries and corporate bonds.

Consumer inflation rose 0.3% in June, with the core rate—less food and energy—up 0.2%. On a year-over-year basis, inflation is up just 0.1% overall, but up 1.8% at the core.

Strong demand for apartment units drove housing starts up 9.8% in June at a 1.174 million annual rate. Building permits, an indicator of future activity, jumped 7.4% overall to a 1.343 million rate. 

The University of Michigan’s Consumer Sentiment Index fell to 93.3 in July, from June’s reading of 96.1.

Initial weekly jobless claims fell 15,000 to 281,000. The 4-week average rose 3,250 to 282,500. Continuing claims fell 112,000 to 2.215 million.

The Bloomberg Consumer Comfort Index fell -0.3 points to 43.2 in the latest week.

The Fed’s balance sheet rose $12.3 billion last week, with total assets of $4.494 trillion. Reserve bank credit rose $7.0 billion.

The Fed reports that M2 money supply rose by $12.6 billion in the latest week.

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