Free Markets, Free People
Economic Statistics for 24 Jul 12
The following statistics were released today on the state of the US economy:
The Richmond Fed manufacturing index contracted sharply in July to -14 versus -3 last month. New Orders fell to -25.
The FHFA purchase only house price index in May advanced 0.8%, following a 0.8% rise in April. The year-on-year rate is up 3.7%, vice 3.0% percent in April.
The Markit Economics’ PMI Flash for the US slowed to 51.8 in July versus the revised 52.5 in June.
In weekly retail sales, Redbook year-year chain store sales growth came in at a disappointing 1.3% rate, due to unseasonably hot weather. Conversely, ICSC-Goldman says cooler weather produced a 1.0% sales increase for the week, with a year-on-year rate of 3.3%.