Economic Statistics for 2 Sep 15
The MBA reports that mortgage applications rose 11.3% last week, with purchases up 4.0% and refis up a very strong 17%.
The ADP Employment report shows only 190,000 net new private sector jobs were created in July.
Following the upward revision to 2nd Quarter GDP, productivity for the Quarter has been revised up to 3.3%, with labor costs down -1.4%.
Gallup’s U.S. job creation index held unchanged at 32 in August for the 4th consecutive month.
Pulled down by petroleum and coal products, factory orders rose a lower-than-expected 0.4% overall in July, but the durable good orders component rose a strong 2.2%.
The Fed’s Beige Book reports that 11 of 12 districts report only moderate to modest growth with the Cleveland district reporting only slight growth.