Free Markets, Free People
Economic Statistics for 19 Jul 12
The following statistics were released today on the state of the US economy:
In a week confused by seasonal adjustments, initial unemployment claims rose 34,000 in to 386,000, which is much higher than expected. But the 4-week average is actually lower, down 1,500 to a 375,500. Continuing claims rose 1,000 to 3.314 million. The 4-week average is also up 1,000 to 3.312 million.
The Bloomberg Consumer Comfort Index remained unchanged at -37.5 in the latest week.
Existing home sales fell 5.4% in June to a much weaker than expected 4.37 million annual rate, the lowest of the year. The declines are across the board in both single-family homes and condos, and in all geographical regions.
The Philadelphia Fed Survey rose to -12.9, indicating a slower rate of contraction in the district from last month.
The Conference Board’s index of leading indicators fell 0.3% in June. But the coincident index rose 0.2% in June, indicating current growth in the economy.