The MBA reports that mortgage applications fell -1.2% last week. Purchases and re-fis both fell -1.0%.
ICSC-Goldman reports weekly retail sales fell -1.2%, and were up only 2.1% on a year-over-year basis. Redbook reports a 3.2% rise in retail sales over last year.
Durable goods orders rose 0.8% in April, mainly on transportation orders. Ex-transportation orders rose 0.1%. On a year-over-year basis, orders are up 7.1%, while ex-transportation orders are up 4.8%.
The Federal Housing Finance Agency (FHFA) House Price Index rose 0.7% in March, and is up 6.4% over last year.
The S&P/Case-Shiller home price index for March was up 1.2% on a seasonally-adjusted basis.
The May Purchasing Managers’ Index (PMI) US Services Flash rose 3.0 points to 58.4.
The Conference Board’s consumer confidence index rose 0/7 points in May to 83.0.
The Richmond Fed manufacturing index was unchanged at 7 in May.
The State Street Investor Confidence Index for May rose 0.5 points to 119.5.
The Dallas Fed general business activity index fell 3.7 points to 8.0 in May. The production index plummeted to 11.0 from 24.7.
Weekly initial jobless claims rose 28,000 to 326,000. The 4-week average fell 1,250 to 322,500. Continuing claims fell 13,000 to 2.653 million.
The Chicago Fed National Activity Index fell sharply from 0.20 to -0.32 in April.
The Markit PMI manufacturing index flash for May rose 1.8 points to 56.2.
The Bloomberg Consumer Comfort Index fell 3 points to 34.1in the latest week.
Existing home sales rose 1.3% in April to a 4.65 million annual rate. Sales are still down -6.8% on a year-ago basis, however.
The Conference Board’s index of leading indicators rose 0.4% in April.
The Kansas City Fed manufacturing index rose 3 points to 10 in May.
The Fed’s balance sheet fell $9.1 billion last week, with total assets of $4.328 trillion. Total reserve bank credit rose by $2.7 billion.
The Fed reports that M2 money supply rose $4.6 billion in the latest week.
It’s a light week for economic data. Only weekly retail sales numbers are on tap for today. ICSC-Goldman reports weekly retail sales down -1.3%, and up only 2.4% on a year-over-year basis. Redbook reports a 3.9% increase in retail sales over last year, which is also slowing from last week.
Consumer prices rose 0.3% in April, with prices less food and energy–the “core” rate–rising 0.2%. On a year-over-year basis, the CPI is up 2.0%, while the core rate is up 1.8%.
Weekly initial jobless claims fell 24,000 to 297,000. The 4-week average fell 750 to 323,250. Continuing claims fell 9,000 to 2.667 million, a recovery low. Or what would be a recovery low had we ever had an actual recovery. But, I digress.
The General Business Conditions Index of the New York manufacturing survey made a rare jump of almost 18 points to 19.01 in May.
The General Conditions Index of the Philadelphia Fed Survey fell -1.2 points to 15.4 in May.
The Treasury Department reports that foreign demand for long-term U.S. securities was a net $4.0 billion in March.
The Fed reports that industrial production fell -0.6% in April, as capacity utilization in the nation’s factories fell to 78.6%. Manufacturing declined by -0.4%.
The National Association of Home Builders reports that the Housing Market Index fell -2 points to 45 in May.
E-Commerce retail sales in the 1st Quarter of 2014 rose 2.8%, versus 3.4% in the 4th Quarter of 2013.
The Fed’s balance sheet rose $33.5 billion last week, with total assets of $4.337 trillion. Total reserve bank credit rose by $18.0 billion.
The Fed reports that M2 money supply rose $22.6 billion in the latest week.
The MBA reports that mortgage applications rose 3.6% last week. Purchases were down -1.0% but re-fis rose 7.0%.
Producer prices rose 0.6% overall in April, with both goods and services prices up 0.6%. Ex-food and -energy, prices rose 0.5%. Less food, energy, and trade services, prices rose 0.3% On a year-over-year basis, the overall PPI is up 2.1%, with goods prices up 2.5% and services prices up 2.0%.
The Atlanta Fed’s Business Inflation Expectations survey shows inflation expectations in May are unchanged at 1.9%.
The NFIB small business optimism index rose a sharp 1.8 points to 95.2 in April. It’s the highest reading since since 2007.
ICSC-Goldman’s read on retail sales shows a weak -0.1 sales drop from last week, but a strong year-over-year 3.9% increase. Redbook’s weekly retail sales figure shows year-on-year strength, with a 4.2% sales increase.
The Census Bureau’s April retail sales report shows a soft 0.1% increase. Sales ex-autos were unchanged. sales ex-autos and -gas fell -0.1%.
April export prices fell -0.1%, and import prices fell -0.4%. On a year-over-year basis, export prices rose 0.1%, while import prices fell -0.3%.
Business inventories rose 0.4% in March, while a 1.0% rise in sales kept the inventory-to-sales ratio unchanged at 1.30.