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Economic Statistics for 6 Jul 16

The nation’s trade deficit widened sharply in May, to $41.1 billion from April’s $37.4 billion.

The PMI Services Index was little changed in June, up 0.1 points to 51.4, while the ISM Non-Manufacturing Index jumped from 52.9 to 56.5.

Gallup’s U.S. Job Creation Index was unchanged at 33 in June.

Redbook reports that last week’s retail sales growth rose to a weak 0.6% on a year-ago basis, from the previous week’s 0.5%.

The MBA reports that a sharp drop in mortgage rates drove mortgage applications up 14.2% last week, with purchases up 4.0% and refis up 21.0%.

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One Response to Economic Statistics for 6 Jul 16

  • “Over the last seven years, we have doubled renewable energy in this country,” he said. “Remember when we were all concerned about our dependence on foreign oil? Well, let me tell you — we’ve cut the amount of oil we buy from other countries in half. Remember when the other team was promising they were going to get gas prices down in like 10 years? We did it. Did it.”

    Thanks to President Obama’s unwavering support in the face of radical environmentalists for fracking and the Keystone pipeline (at least the parts in the US), he did it.