Free Markets, Free People
Economic Statistics for 11 Jul 12
The following statistics were released today on the state of the US economy:
In May, the U.S. trade gap shrank to $48.7 billion from a revised $50.6 billion in April, primarily on falling oil prices.
Wholesale inventories rose 0.3% in May, well above a -0.8% decline in sales at the wholesale level. The stock to sales ratio rose to 1.18.
MBA Purchase applications fell -2.1% in the latest week, with purchase apps rising 3.0% and re-finance apps falling -3.0%.