Free Markets, Free People
Economic Statistics for 19 Jun 12
The following statistics were released today on the state of the US economy:
Housing starts declined in May by 4.8%, at a below-expected pace of 0.708 million. That is up 28.5% on a year-ago basis, however. Housing permits rose a better-than-expected 7.9%, to an annual rate of 0.780 million units. That mixes up the picture a bit, and hits at improvements over the next month in the housing sector.
Redbook’s same-store index shows a 2.4% sales increase. That’s up 0.4% from the prior week, but still soft. ICSC-Goldman Store Sales are also soft, with sales unchanged from last week. The year-on-year increase is 3.6%, the highest since mid-May, but the 4-week average is 3.1%, a 3-month low.