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

Initial jobless claims fell 26,000 to 350,000 last week, mainly due to seasonal distortions in the Auto Industry. The 4-week moving average fell to 376,500. Continuing claims fell to 3.304 million.

Import prices for June followed May’s 1.0% decline by falling -1.7%, with a year-over-year rate of -2.1%. Export prices fell -2.7%, with a year-over-year rate of -2.6%.

The Bloomberg Consumer Comfort Index remained unchanged at 37.5 in the latest week.

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Dale Franks
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