Archive for August, 2013

Key Economic Indicators – September 2, 2013

Friday, August 30th, 2013
  • Real GDP  increased at an annual rate of 2.5% in the second quarter of 2013,  according to the “second” estimate released by the Bureau of Economic Analysis, after increasing at 1.1% in the previous quarter. In the advance estimate, released a month ago, the increase in real GDP was 1.7%.
  • The price index for gross domestic purchases increased 0.3% in the second quarter, compared to an increase of 1.2% in the previous quarter.
  • Corporate profits from current production increased $78.3 billion in the first quarter, after a decrease of $26.6 billion in the previous quarter.
  • Personal income increased 0.1% in July. Disposable personal income increased 0.2%, while personal consumption expenditures increased 0.1%.
  • The price index for personal consumption expenditures increased 0.1% in July. The price index (headline index) was up 1.4% from July 2012, while the core index was up 1.2%.
  • New orders for manufactured durable goods decreased 7.3% in July, while shipments decreased 0.3%.
  • The S & P/Case-Shiller National U.S. Home Price Index posted annual increases of 11.9% and 12.1% in the 12 months ending in June, for the 10-city and 20-city composite indices, respectively.
  • The Pending Home Sales Index decreased 1.3% in July, according to the National Association of Realtors.
  • The results of Freddie Mac’s Primary Mortgage Market Survey of August 29th showed average fixed mortgage rates moving lower from the previous week.
  • Mortgage applications decreased 2.5% from a week earlier, according to data from Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending August 23rd.
  • The advance figure for initial claims for  unemployment insurance decreased 6 thousand to 331 thousand in the week ending August 24th.
  • The Conference Board’s consumer confidence index, which had declined in July, increased slightly in August.
  • The Thomson Reuters/University of Michigan Index of Consumer Sentiment retreated in August.

Key Economic Indicators – August 26, 2013

Friday, August 23rd, 2013
  • July existing home  sales increased 6.5% to an annualized rate of 5,390 thousand units. The  July figure was 17.2% above the July 2012 figure. The median sales price of existing houses sold was $213.5 thousand, 13.7% above July 2012.
  • July new home sales decreased 13.4% to an annualized rate of 394 thousand units. The July figure was 6.8% above the July 2012 figure. The median sales price of new houses sold was $257.2 thousand, 8.3% above July 2012.
  • U.S. House prices rose  0.7% on a seasonally adjusted basis from May to June, following a 0.8% increase in the previous period, according to the Federal Housing Finance Agency’s (FHFA) monthly House Price Index. For the 12 months ending in June, U.S. house prices rose 7.7%.
  • The results of Freddie Mac’s Primary Mortgage Market Survey of August 22nd showed average fixed mortgage rates reaching new highs for the year.
  • Mortgage applications decreased 4.6% from a week earlier, according to data from Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending August 16th.
  • The advance figure for initial claims for unemployment insurance increased 13 thousand to 336 thousand in the week ending August 17th.
  • Regional and state unemployment rates were little changed in July.
  • The Conference Board index of leading economic indicators increased 0.6% in July, after recording no gain in the previous month. The coincident index increased 0.2% in July, following a 0.1% increase as in the previous month.

Key Economic Indicators – August 19, 2013

Saturday, August 17th, 2013
  • Advance estimates of retail and food services sales for July were up 0.2% from the previous month, and were up 5.4% from July 2012.
  • Total manufacturing and trade sales for June were up 0.2%, while inventories were up less than 0.1%.
  • Total Industrial production held steady in July, after increasing 0.2% in the previous month.
  • Second quarter productivity increased 0.9% (seasonally adjusted annual rate) in the non-farm business sector, following a 1.7% decrease in the previous period.
  • The advance figure for initial claims for unemployment insurance decreased 15 thousand to 320 thousand in the week ending August 10th.
  • Real average hourly earnings for all employees decreased 0.2% from June to July.
  • The federal government budget ran a deficit of $97.6 billion in July. The cumulative budget deficit for the first ten months of fiscal year was $366.4 billion less than the deficit for the same period of the previous fiscal year.
  • Treasury International Capital reported net foreign purchases of long-term securities of $5.5 billion in June.
  • Housing starts increased 5.9% in July, following a 7.9% decrease in the previous month.
  • The housing market index of National Association of Home Builders (NAHB) and Wells Fargo increased 3 points to 59 in August. This was the highest level since November of 2005.
  • The results of Freddie Mac’s Primary Mortgage Market Survey of August 15th showed average fixed mortgage rates largely unchanged from the previous week.
  • Mortgage applications decreased 4.7% from a week earlier, according to data from Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending August 9.
  • The consumer price index (headline index) and the core index both increased 0.2% in July. The consumer price index increased 2.0% for the 12-month period ending in July, while the core index rose 1.7%.
  • The producer price index for finished goods held steady in July, while the core index increased 0.1%. The producer price index for finished goods increased 2.1% from July 2012 to July 2013.
  • The import price index increased 0.2% in July, while the export price index decreased 0.1%. The import price index increased 1.0% from July 2012, while the price index for overall exports increased 0.4%.
  • The August 2013 Empire State Manufacturing Survey indicated that the conditions for New York manufacturers improved modestly for a third consecutive month.
  • The Philadelphia FED business outlook survey for August reported increased manufacturing activity.
  • The Thomson Reuters/University of Michigan Index of Consumer Sentiment, preliminary, for August decreased to 80.0, the lowest reading since April.

Key Economic Indicators – August 12, 2013

Friday, August 9th, 2013
  • Sales of domestic cars increased 0.1% in July, while total light vehicle (cars and light trucks) sales decreased 0.6% in July. Total vehicle sales were 15.731 million units in July, at a seasonally adjusted annual rate, compared to 14.162 million in July of 2012.
  • Sales of merchant wholesalers in June were up 0.4%, while inventories were down 0.2%.
  • In June, international trade deficit was $34.2 billion, $9.9 billion less than the revised May figure.
  • The advance figure for initial claims for unemployment insurance increased 5 thousand to 333 thousand in the week ending August 3rd.
  • The results of Freddie Mac’s Primary Mortgage Market Survey of August 8th showed average fixed mortgage rates changing little.
  • Mortgage applications increased 0.2% from a week earlier, according to data from Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending August 2.

Key Economic Indicators – August 5, 2013

Monday, August 5th, 2013
  • Real GDP increased at an annual rate of 1.7% in the second quarter of 2013, after increasing at 1.1% in the previous quarter. The price index for gross domestic purchases increased 0.3% in the second quarter, compared to an increase of 1.2% in the previous quarter.
  • Personal income increased 0.3%, in June, while personal consumption expenditures increased 0.5%. The price index for personal consumption expenditures increased 0.4% in June.
  • Total non-farm payroll employment rose 162 thousand in July, following an increase of 188 thousand in the previous month.   Private-sector payrolls increased by 161 thousand in the month, while government employment increased by a thousand.
  • The unemployment rate decreased to 7.4% in July, from 7.6% in June.
  • The average workweek of all employees on private nonfarm payrolls decreased 0.1 to 34.4 hours.
  • Average hourly earnings of all employees on private nonfarm payrolls decreased by 2 cents.
  • The advance figure for initial claims for unemployment insurance decreased 19 thousand to 326 thousand in the week ending July 27th.
  • The Employment Cost Index for total compensation rose 0.5% for the 3-month period ending June 2013.
  • Sales of domestic cars increased 4.3% in June, while total light vehicle sales increased 2.6%. Total vehicle sales were 15.812 million units in June, at a seasonally adjusted annual rate, compared to 14.325 million in June of 2012.
  • New orders for manufactured goods increased 1.5% in June, while shipments decreased 0.4%.
  • Construction spending decreased 0.6% in June. Private construction decreased 0.4%, while public construction decreased 1.1%.
  • The S & P/Case-Shiller National U.S. Home Price Index posted annual increases of 11.8% and 12.2% in the 12 months ending in May, for the 10-city and 20-city composite indices, respectively. As of May 2013, both composite indexes were back to their spring 2004 levels, and were about 24-25% below their June/July 2006 peaks.
  • The Pending Home Sales Index, a leading indicator for the housing sector, decreased 0.4% in June,
  • The results of Freddie Mac’s Primary Mortgage Market Survey of August 1st showed average fixed mortgage rates increasing while still remaining relatively low.
  • Mortgage applications decreased 3.7% from a week earlier, according to data from Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending July 26th.
  • The Conference Board’s consumer confidence index, which had improved in June, pulled back slightly in July.
  • The Institute for Supply Management’s (ISM) manufacturing survey indicated that the manufacturing sector expanded in July for the second consecutive month, and the overall economy grew for the 50th consecutive month.
  • In July, the Institute for Supply Management’s (ISM) non-manufacturing survey results indicated growth for the 43rd consecutive month.
  • The Federal Open Market Committee decided to keep its target for the federal funds rate at 0 to 0.25%.