Key Economic Indicators – June 16, 2014

  • Advance estimates of retail and food services sales increased 0.3% in May, following a 0.1% increase in the previous month. Excluding autos, retail and food services sales were up 0.1%.
  • Total manufacturing and trade sales for April were up 0.7%, while inventories were up 0.6%.
  • The federal government budget ran a deficit of $130.0 billion in May, after a deficit of $106.9 billion in the previous month.
  • The advance figure for initial claims for unemployment insurance increased 4 thousand to 317 thousand in the week ending June 7.
  • The producer price index for final demand (headline index) decreased 0.2% in May, following an increase of 0.6% in April. The core index decreased 0.1%, following a 0.5% increase in the previous month. Both the headline and the core index increased 2.0% from May 2013.
  • The import price index rose 0.1% in May, following a 0.4% decrease in the previous month. The export price index increased 0.1%, following a 1.0% decrease in the previous month. The import price index increased 0.4% from May 2013, while export prices increased 0.5%.
  • The results of Freddie Mac’s Primary Mortgage Market Survey of June 12th showed average fixed mortgage rates moving higher. The 30-year fixed rate averaged 4.20% for the week ending June 12, up from the previous week when it averaged 4.14%.
  • Mortgage applications increased 10.3% from a week earlier, according to data from Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending June 11th.
  • The Thomson Reuters/University of Michigan Index of Consumer Sentiment, preliminary, edged down to 81.2 in early June.

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