Free Markets, Free People

Economic Statistics for 3 Aug 15

July motor vehicle sales came in at a stronger than expected 3.2% increase to a 17.6 million annual rate. Sales of North American-made vehicles rose 5.2% to a 14.2 million annual rate.

Personal income rose 0.4% in June, while consumer spending rose 0.2%. The PCE Price Index, an inflation measure, rose 0.2% overall, and 0.1% less food and energy. On a year-over-year basis, personal income rose 4.1%, consumer spending rose 3.4%, and the price index rose 0.3% overall, and 1.3% at the core.

Gallup’s US Consumer Spending Measure shows that Americans report spending an average of $91 per day in July, little changed from June’s $90.

The ISM Manufacturing Index slipped -0.8 points in July to a lower-than-expected 52.7. In contrast, the PMI Manufacturing index rose 0.2 points to 53.8.

Construction spending inched only 0.1% higher in June, mainly due to a -1.3% drop in non-residential private construction. On a year-over-year basis, Construction spending is up by 12.0%.

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