Free Markets, Free People
Economic Statistics for 6 Jun 12 (UPDATED)
The following statistics were released today on the state of the US economy:
The Ceridian-UCLA Pulse of Commerce Index rose 0.8% in May to 94.92.
First quarter productivity—like GDP—was revised downwards to a -0.9% decline, while unit labor costs rose 1.3%.
The MBA reports mortgage applications are weak, with the composite index up 1.3%. Purchase apps are down -1.8%, while refis rose 2%.
UPDATE: This afternoon’s Beige Book from the Fed says overall economic activity has expanded at a "moderate" pace, led by manufacturing expansion in most Districts.