• Real GDP increased at an annual rate of 1.1% in the second quarter, according to the “second” estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP increased 1.2%.
  • The price index for gross domestic product increased 2.3% in the second quarter, following a 2.2% increase in the first quarter.
  • Existing home sales decreased 3.2% to a seasonally adjusted annual rate of 5.39 million in July, from 5.57 million in the previous month, according to the National Association of Realtors. The median existing home price in July was $244.1 thousand, down 1.4% from a year ago.
  • Mortgage applications decreased 2.1% from a week earlier, according to data from Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending August 19th.
  • The advance figure for initial claims for unemployment insurance was 261 thousand in the week ending August 20, a decrease of a thousand from the previous week’s level. The 4-week moving average was 264 thousand, a decrease of 1.25 thousand from the previous week’s average.
  • Total Industrial production, which increased 0.4% in June, increased 0.7% in July. The rate of capacity utilization increased 0.5 percentage point to 75.9%.
  • Housing starts in July were up 2.1%, while building permits held steady.
  • The consumer price index held steady in July, following a 0.2% increase in the previous month. The core index increased 0.1%, following a 0.2% increase as in the previous month. The consumer price index increased 0.8% for the 12-month period ending in July, while the core index rose 2.2%.
  • The advance figure for initial claims for unemployment insurance was 262 thousand in the week ending August 13, a decrease of 4 thousand from the previous week. The 4-week moving average was 262.25 thousand, a decrease of 0.5 thousand from the previous week’s average.
  • Mortgage applications decreased 4.0% from a week earlier, according to data from Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending August 12th.
  • The August 2016 Empire State Manufacturing Survey indicated that business activity remained weak for New York manufacturers. The headline index was negative 4.2 in August, down from positive 0.6 in July.
  • The Philadelphia FED business outlook survey indicated that regional manufacturing activity remained flat in August.

 

  • Advance estimates of retail and food services sales for July were virtually unchanged from June, according to the U.S. Census Bureau. Excluding motor vehicle & parts, retail sales were down 0.3%.
  • Total manufacturing and trade inventories were up 0.2% in June, according to the U.S. Census Bureau. The total business inventories/sales ratio was 1.39.
  • The number of job openings increased 2.0% in June to 5.6 million, according to the U.S. Bureau of Labor Statistics.
  • The advance figure for initial claims for unemployment insurance was 266 thousand in the week ending August 6, a decrease of a thousand from the previous week. The 4-week moving average was 262.75 thousand, an increase of 3 thousand from the previous week’s revised average.
  • Mortgage applications increased 7.1% from a week earlier, according to data from Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending August 5th.
  • The Thomson Reuters/University of Michigan Index of Consumer Sentiment edged up to 90.4 in early August.
  • Personal income increased 0.2% in June, and personal consumption expenditures increased 0.4%.
  • The price index for personal consumption expenditures increased 0.1% in June. The price index (headline index) was up 0.9% from June 2015, while the core index was up 1.6%.
  • Total non-farm payroll employment rose 255 thousand in July, following an increase of 292 thousand in the previous month, according to the U.S. Bureau of Labor Statistics.
  • The unemployment rate was unchanged at 4.9%.
  • The average workweek of all employees on private nonfarm payrolls increased by 0.1 to 34.5 hours. Average hourly earnings were up 0.3%.
  • The advance figure for initial claims for unemployment insurance was 269 thousand in the week ending July 30, an increase of 3 thousand from the previous week. The 4-week moving average was 260.25 thousand, an increase of 3.75 thousand from the previous week’s average.
  • Mortgage applications decreased 3.5% from a week earlier, according to data from Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending July 29th.