- Real GDP increased at an annual rate of 1.8% in the first quarter of 2013, according to the “third” estimate released by the Bureau of Economic Analysis, after increasing at 0.4% in the previous quarter. In the “second” estimate, released a month ago, real GDP increased 2.4%.
- The price index for gross domestic purchases increased 1.2% in the first quarter, compared to an increase of 1.6% in the previous quarter.
- Corporate profits from current production decreased $28.0 billion in the first quarter, after an increase of $45.4 billion in the previous quarter.
- Personal income increased 0.5%, in May, while personal consumption expenditures increased 0.3%. Personal savings as percent of personal disposable income were 3.2% in May, compared with 3.0% in the previous month.
- The price index for personal consumption expenditures increased 0.1% in May. The price index (headline index) was up 1.0% from May 2012, while the core index was up 1.1%.
- New orders for manufactured durable goods increased 3.6% in May, while shipments increased 1.2%.
- May new home sales increased 2.1% to an annualized rate of 476 thousand units. The median sales price of new houses sold was $263.9 thousand, 10.3% above May 2012.
- U.S. House prices rose 0.7% on a seasonally adjusted basis from March to April, according to the Federal Housing Finance Agency’s (FHFA) monthly House Price Index. For the 12 months ending in April, U.S. house prices rose 7.4%.
- The S & P/Case-Shiller National U.S. Home Price Index posted annual increases of 11.6% and 12.1% in the 12 months ending in April, for the 10-city and 20-city composite indices, respectively. As of April 2013, both composite indexes were back to their early 2004 levels, and were about 26-27% below their June/July 2006 peaks.
- The Pending Home Sales Index, a leading indicator for the housing sector, increased 6.7% to a reading of 112.3 in May, its highest level since late 2006, according to the National Association of Realtors.
- The results of Freddie Mac’s Primary Mortgage Market Survey of June 27th showed average fixed mortgage rates jumping to their highest levels since the week of July 28, 2011. The increase for the 30-year fixed mortgage rate was the largest weekly increase since the week ended April 17, 1987.
- Mortgage applications decreased 3.0% from a week earlier, according to data from Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending June 21st.
- The advance figure for initial claims for unemployment insurance decreased 9 thousand to 346 thousand in the week ending June 22nd.
- The Conference Board’s consumer confidence index, which had improved in May, increased again in June.
- The Thomson Reuters/University of Michigan Index of Consumer Sentiment edged down to 84.1 in June, from 84.5 in May, its highest level in nearly six years.
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