The volatile Chicago Purchasing Manager’s Index jumped from 49.3 to 56.8 in June.
Initial weekly jobless claims rose 10,000 to 268,000. The 4-week average is unchanged at 266,750. Continuing claims fell 20,000 to 2.120 million.
The Bloomberg Consumer Comfort Index fell -0.3 points to 43.9 in the latest week.
The Fed’s balance sheet fell $-15.5 billion last week, with total assets of $4.467 trillion. Reserve bank credit fell $-2.2 billion.
The Fed reports that M2 money supply rose by $18.1 billion in the latest week.
Personal income rose 0.2% in May, while consumer spending rose 0.4%. The PCE Price index also rose 0.2% at both the core and headline rate. On a year-over-year basis, the PCE price index is up 0.9%, and up 1.6% for prices less food and energy.
The Pending Home Sales Index slumped -3.7% in May to 110.8.
The MBA reports that mortgage applications fell -2.6% last week, with purchases down -3.0% and refis down -2.0%.
The final estimate for 1st Quarter GDP was for a 1.1% annualized growth rate. The GDP Price index rose 0.4%.
The final estimate for corporate profits indicates that profits fell to a -2.3% year-on-year rate in the 1st Quarter.
The S&P/Case-Shiller home price index rose 0.5% in April, with a year-on-year increase of 5.4%.
The Conference Board’s consumer confidence index jumped 5.8 points to 98.0, the highest reading since October 2015.
The Richmond Fed Manufacturing Index weakened from -1 to -7 in June.
Redbook reports that last week’s retail sales growth fell to 0.5% on a year-ago basis, from the previous week’s 0.9%.
The gap in the nation’s international trade in goods rose to $-60.6 billion in May, as exports fell -2.0% and imports rose 1.9%.
The Dallas Fed Manufacturing Survey for June rose to -7.0 from -13.1 in May.
The PMI Services Flash for June rose just 0.1 point to 51.3.
New home sales fell -6.0% in May to a 551,000 annual rate.
The Chicago Fed National Activity Index fell to -0.51 in May, from the previous month’s 0.10. The 3-month moving average fell to -0.36.
The PMI Manufacturing Index Flash rose from 50.5 to 51.4 in June.
The Conference Board’s index of leading economic indicators fell -0.2% in May.
The Kansas City Fed Manufacturing Index rose from -5 to 2 in June.
Initial weekly jobless claims fell 18,000 to 259,000. The 4-week average fell 2,250 to 267,000. Continuing claims fell 20,000 to 2.142 million.
The Bloomberg Consumer Comfort Index rose 2.1 points to 44.2 in the latest week.
The Fed’s balance sheet rose $9.2 billion last week, with total assets of $4.482 trillion. Reserve bank credit rose $6.6 billion.
The Fed reports that M2 money supply rose by $40.4 billion in the latest week.
A slow week for economic data begins with Redbook’s weekly retail sales report, which shows year-on-year, same-store sales up slightly better, but still weak at 0.9%, compared to last week’s 0.7%.
Existing home sales rose 1.8% in May, to a 5.530 million annual rate. Sales are up 4.5% on a year-over-year basis.
The FHFA House Price Index rose a smaller than expected 0.2% in April, though the idea is up 5.9% from a year ago.
The MBA reports that mortgage applications rose 2.9% last week, with purchases down -2.0%, but refis up 7.0%.
Consumer prices rose 0.2% in May, at both the headline and core rates. On a year-over year basis, the CPI is up 1.0% overall, but up 2.2% ex-food and -energy.
Despite a raft of negative details in the report, the overall Philadelphia Fed Survey rose from -1.8 to 4.7 in June.
The nation’s current account deficit widened in the 1st Quarter, to $-124.7 billion from an upwardly revised $-113.4 billion in the 4th Quarter.
The NAHB’s Housing Market Index, after holding unchanged for four straight months, those 2 points to 60 in June.
Initial weekly jobless claims rose 13,000 to 277,000. The 4-week average fell 500 to 269,250. Continuing claims rose 45,000 to 2.157 million.
The Bloomberg Consumer Comfort Index fell sharply, down -1.1 points to 42.1 in the latest week.
The Fed’s balance sheet rose $9.3 billion last week, with total assets of $4.472 trillion. Reserve bank credit increased $8.7 billion.
The Fed reports that M2 money supply rose by $12.7 billion in the latest week.
The Federal Open Markets Committee’s newest economic projections show a maximum GDP growth rate of 2.2% until after 2018.
May Producer Prices for Final Demand rose 0.4%, while prices less food and energy rose 0.3%. Less trade services, however, prices fell -0.1%. On a year-over year basis, PPI-FD were down -0.1%, up 1.2% less food and energy, and up 0.8% less trade services.
Industrial production fell -0.4% in May, while capacity utilization in the nation’s factories fell -0.5% to 74.9%.
Foreign demand for long-term U.S. securities in April fell by $-79.6 billion, fully reversing March’s $78.1 billion inflow.
The Empire State Manufacturing Survey rose into positive territory again, rising from -9.02 to 6.01 in June.
The MBA reports that mortgage applications fell -2.4% last week, with purchases down -5.0% and refis down -1.0%.
Retail sales rose a surprising 0.5% in May, with sales less autos up 0.4%, and sales less autos and gas up 0.3%.
Import prices rose a huge 1.4% in May, while export prices rose 1.1%. On a year-over-year basis, however, prices are down -5.0% for imports and -4.5% for exports.
Business inventories rose 0.1% in April, but a 0.9% increase in sales lowered the stock-to-sales ratio from 1.41 to 1.40.
The NFIB’s Small Business Optimism index rose 0.2 points to 93.8 in May.
Redbook reports that last week’s retail sales growth rose to a sluggish 0.7% on a year-ago basis, from the previous week’s 0.6%.
The US Budget deficit for may was $52.5 billion. The fiscal year to date deficit, at $407.1 billion is 11.0% higher than last year. May’s deficit is actually understated, as calendar issues pushed about $30 billion of payments into June.
The University of Michigan’s Consumer Sentiment Index fell -0.4 points in June to 94.3 for the preliminary estimate.