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%.

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Dale Franks
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