Personal Income rose 0.2% in July, while consumer spending fell -0.1%. The PCE price index rose 0.1% at both the headline and core levels. On a year-over-year basis, personal income is up 4.3%, while personal spending is up 3.6%. The PCE Price index is up 1.6% at the headline level, and 1.5% at the core.
The Chicago Purchasing Manager’s Index jumped from 52.6 to 64.3 in July.
The Reuter’s/University of Michigan’s consumer sentiment index for August rose 3.3 points to 82.5.
The Commerce Department’s second estimate of First Quarter 2014 GDP came in at 4.2%, annualized. This is stronger than expected and stronger than the initial 4.0% estimate. The GDP Price Index rose at a 2.1% annualized rate.
Corporate profits in the Second Quarter of 2014 came in at $1.840 trillion, following $1.735 trillion for the First Quarter.
The pending home sales index for existing home sales rose a strong 3.3% in July to 105.9, up from 102.7 in June.
The Kansas City Fed manufacturing index slipped from 9 in July to 3 August.
Weekly initial jobless claims fell 1,000 to 298,000. The 4-week average fell 1,250 to 299,750. Continuing claims rose 25,000 to 2.53 million.
The Bloomberg Consumer Comfort Index rose 0.7 points to 37.3 in the latest week.
The Fed’s balance sheet rose $0.8 billion last week, with total assets of $4.414 trillion. Total reserve bank credit rose by $2.5 billion.
The Fed reports that M2 money supply rose $32.0 billion in the latest week.
Durable Goods orders for July soared by 22.6%, Sadly, it was all due to aircraft orders. Ex-transportation, orders fell -0.8%. On a year-over-year basis, orders were up 33.8% overall, but only 6.6% excluding transportation orders.
The FHFA purchase only house price index rose a respectable 0.4% in June, but the year-on-year rate slowed by -0.4% to 5.1%.
The S&P/Case-Shiller home price index fell -0.2% in June, though it was up 8.1% on a year-over-year basis.
The Conference Board’s consumer confidence index for August once again rose above expectations, up 1.5 points to 92.4.
The Richmond Fed manufacturing index rose 5 points to 12 in August, as manufacturing strengthened in the mid-Atlantic district.
The State Street Investor Confidence Index rose a very sharp 7.0 points in August to a very strong 122.8.
ICSC-Goldman reports weekly retail sales rose 0.6%, and were up 4.2% on a year-over-year basis. Redbook reports a 4.0% rise in retail sales over last year.
The Chicago Fed National Activity Index, a gauge of overall economic activity and inflationary pressure, rose 0.27 points to 0.39 in August.
The PMI Services Flash for August fell -1.5 points to 58.5.
New home sales rose for July rose less than expected, coming in at an annualized rate of 412,000.
The Dallas Fed general business activity index fell from 12.7 in July to 7.1 in August.
The PMI Manufacturing Index Flash for August rose 1.7 points to 58.0.
The Philadelphia Fed Survey for August rose a sharp 4.1 points to 28.0, a rise not supported by the report’s underlying indices. Both new orders and shipments slowed by half, while unfilled orders are shrinking and delivery times are improving. All of these are symptomatic of slowing activity. The headline number is not a a composite of components but is based on a single subjective question in the survey. This month, at least, the answer to that question seems at variance with the other indices in the report.
Existing home sales rose 2.4% to an annualized rate of 5.15 million units in July.
Initial jobless claims fell 14,000 last week, to 298,000. The 4-week moving average rose 5,000 to 300,750. Continuing claims fell 49,000 to 2.500 million.
The Bloomberg Consumer Comfort Index fell -0.2 points to 36.6 in the latest week.
The Fed’s balance sheet fell $-19.0 billion last week, with total assets of $4.412 trillion. Reserve Bank credit fell $-3.7 billion.
The Fed reports that M2 Money Supply fell by $-8.7 billion last week.
The Consumer Price Index rose 0.1% in July, at both the headline and core level. On a year-over-year basis, the CPI is up 2.0% at the headline level, and up 1.9% less food and energy.
July housing starts jumped 15.7%, to a 1.093 million annual rate.
ICSC-Goldman reports weekly retail sales fell -1.3%, but were up a strong 3.8%% on a year-over-year basis. Redbook, meanwhile, reports a slowing to 3.7% in retail sales over last year, compared to 4.8% last week.
The Producer Price Index for total final demand slowed to 0.1% in July. Prices excluding food & energy rose 0.2%. Prices excluding food, energy, and trade services increased 0.2%. Prices for goods were unchanged, while services rose 0.1%. On a seasonally adjusted year-ago basis, PPI final demand was up 1.7 %. Excluding food & energy, PPI final demand was up 1.6%.
The New York Fed’s Empire State Manufacturing Survey fell to 14.69 in August vs. 25.60 in July.
Net foreign demand for long-term U.S. securities fell to $-30.2 billion in June. Foreign accounts were heavy sellers of Treasuries and corporate bonds.
Industrial production in July rose 0.4%, while capacity utilization in the nation’s factories rose 0.1% to 79.2%.
The Reuters/University of Michigan’s consumer sentiment index in August fell -2.6 points to 79.2.
E-commerce sales rose a very sharp 4.9% in the second quarter of 2014, compared to 3.3% in the first quarter.