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

The consumer price index was unchanged in July, after being unchanged in June and falling -0.3% in May. Excluding food and energy, the core CPI rose 0.1%, following 0.2% in the last two months. On a year-over-year basis, the CPI is up 1.7%, with the core CPI rising 2.2%

Industrial production rose 0.6% in July following a 0.4% increase in June. Overall capacity utilization improved to 79.4% from 78.9% in June.

The Empire State manufacturing index for August fell sharply to -5.85 from July’s 7.39, indicating weakness in the manufacturing sector.

The net capital inflow of long-term securities rose only $9.3 billion in June, the the weakest since October, 2011.

The NAHB housing market index rose 2 points this month to 37, nearly the highest since early 2007.

The MBA reports mortgage applications declined last week, falling a sharp -4.5%. Purchase apps fell -2.0%, while re-fi apps fell -5.0%.

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Dale Franks
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