Economic Statistics for 31 Jul 13
Here are today’s statistics on the state of the economy:
The MBA reports mortgage applications fell -3.7% last week, with purchases down -3.0% and re-fis down -4.0%.
The ADP Employment Report indicates that 200,000 new private payroll jobs were created in July.
The Commerce Department’s initial estimate of 2nd Quarter GDP growth is an anemic 1.7% annualized, though that’s up from the 1.1% of the previous quarter. Inflation slowed, as the GDP price index rose 0.7%, compared to 1.2% in the 1st Quarter.
The Employment Cost Index rose a steep 0.5% in the 2nd Quarter, and is up 1.9% over a year ago.
The Chicago Purchasing Managers Index rose 0.7 points to 52.3 in July, but the new orders, production, and inventories components all declined.