Free Markets, Free People

Economic Statistics for 13 Jul 16

June import prices rose 0.2%, while export prices jumped 0.8% on petroleum price increases. On year-over-year basis, import prices have fallen -4.8% while export prices have dropped -3.5%.

The US Treasury posted a $6.3 billion surplus in June but the government’s fiscal year deficit is up 27% to $400.9 billion vs $316.4 billion this time last year.

The Fed’s Beige Book today reported that 11 of 12 Fed districts are reporting only modest to moderate economic growth. 

The Atlanta Fed Business Inflation Expectations report showed 12-month inflation expectations fell -0.1% to a 1.7% annual rate.

The MBA reports that mortgage applications rose 7.2% last week, with purchases unchanged but refis up 11.0%.

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