Free Markets, Free People
Economic Statistics for 17 Jul 12
The following statistics were released today on the state of the US economy:
The consumer price index was unchanged for June, and up 1.7% from last year. The core CPI rose 0.2%, and is up 2.2% from last year.
The Housing Market Index jumped the most in 10 years, rising a huge 6 points to 35, its highest level since March 2007. This has analysts hoping that the housing market has turned the corner.
Industrial production rose 0.4% in June, but capacity utilization at the nation’s factories fell slightly to 78.9%. Manufacturing output rose 0.7% for the month.
Net inflow of long-term securities rose $55.0 billion in May, up from April’s revised $27.2 billion. Foreign official institutions were the heaviest buyers of US securities in the month.
In weekly retail sales, Redbook shows a very disappointing 1.7% year-on-year sales increase, one of the lowest since April 2011. ICSC-Goldman Store Sales showed no increase from last week, and the year-on-year increase was 2.6%, which, while still on trend, is moving south.