Economic Statistics for 23 Aug 12
The following statistics were released today on the state of the US economy:
The FHFA reports the house price index rose 0.7% for June, and is up 3.6% year-over-year.
Initial jobless claims rose 4,000 for a second straight week to 372,000. the 4-week moving average rose 1,000 to 368,000. Continuing claims rose 4,000 to 3.317 million.
The Markit Economics PMI Manufacturing Index Flash rose 0.5 points to 51.9, indicating low but rising manufacturing activity.
The Bloomberg Consumer Comfort Index fell a steep 3.0 points to -47.4 for the sixth straight drop and the lowest reading since December, 2011.
New home sales rose 3.6% in July to an annual unit rate of 372,000, well above consensus, and the best since July 2010.
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Dale Franks
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New claims for unemployment benefits took an unexpected jump in the latest week, raising more concerns about the struggling job market and providing futher incentive for the Federal Reserve to jump in and help the economy.
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