The following statistics were released today on the state of the US economy:

Durable goods orders came in much better than expected, with an overall 1.1% increase in May. On a year-over-year basis, orders rose 4.6%. The increase was mainly the result of a big increase in aircraft orders. Ex-Transportation, orders rose 0.4% for the month, and 3.8% on a year-over-year basis.

The Mortgage Bankers’ Association reports mortgage applications fell -7.1%, with purchases down -1.0% and re-finance apps down -8.0%.

The National Association of Realtors reports that the Pending Home Sales Index rose 5.9 points to 101.1.

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Dale Franks
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