Current-Cast® Report

• New orders for manufactured durable goods increased 4.2% in June, while shipments held steady.
• June existing home sales were down 1.2% from the previous month, but were up 15.3% from June 2012. The median sales price of existing houses sold was $214.2 thousand,  13.5% above June 2012.
• June new home sales were up 8.3% from the previous month, and were up 38.1% from June 2012 figure. The median sales price of new houses sold was $249.7 thousand,  7.4% above June 2012.
• U.S. House prices rose 0.7% on a seasonally adjusted basis from April to May, according to the Federal Housing Finance Agency’s (FHFA) monthly House Price Index. For the 12 months ending in May, U.S. prices rose 7.3%.
• The results of Freddie Mac’s Primary Mortgage Market Survey of July 25th showed average fixed mortgage rates easing for the second consecutive week.
• Mortgage applications decreased 1.2% from a week earlier, according to data from Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending July 19th.
• The advance figure for initial claims for unemployment insurance increased 7 thousand to 343 thousand in the week ending July 20th.
• The Thomson Reuters/University of Michigan Index of Consumer Sentiment climbed to its highest level in six years.

• Advance estimates of retail and food services sales for June were up 0.4% from the previous month, and were up 5.7% from June 2012.

• Total manufacturing and trade sales for May were up 1.1% from April, while inventories were up 0.1%.

• Total Industrial production rose 0.3% in June, after holding steady in the previous month. The rate of capacity utilization for total industry was 77.8%.

• Housing starts decreased 9.9% in June, following an 8.9% increase in the previous month. Building permits in June were 911 thousand units, down 7.5% from May, but were up 16.1% from June 2012.

• The housing market index of National Association of Home Builders (NAHB) and Wells Fargo increased 6 points to 57 in July.

• The results of Freddie Mac’s Primary Mortgage Market Survey of July 18th showed average fixed mortgage rates easing along with market concerns over the Federal Reserve’s bond purchase program.

• Mortgage applications decreased 2.6% from a week earlier, according to data from Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending July 12th.

• The consumer price index (headline index) increased 0.5% in June, while the core index increased 0.2%. The consumer price index increased 1.8% for the 12-month period ending in June, while the core index rose 1.6%.

• The advance figure for initial claims for unemployment insurance decreased 24 thousand to 334 thousand in the week ending July 13th.

• Real average hourly earnings for all employees were unchanged from May to June.

• Median weekly earnings of the nation’s 104.2 million full-time wage and salary workers were up 0.6% from a year earlier.

• Regional and state unemployment rates were little changed in June.

• The July 2013 Empire State Manufacturing Survey indicated that the conditions for New York manufacturers continued to improve modestly.

• The Philadelphia FED business outlook survey for July reported increased manufacturing activity.

• The Conference Board index of leading economic indicators held steady) in June, while the coincident index increased 0.2%.

• The FED’s “Beige Book” indicated that overall economic activity continued to increase at a modest to moderate pace since the previous report.

• Sales of merchant wholesalers in May were up 1.6% from April, while inventories were down 0.5%.
• May consumer credit outstanding increased at an annual rate of 8.3%. Revolving credits increased at an annual rate of 9.3%, while non-revolving credits increased 7.9%.
• The producer price index for finished goods (headline index) increased 0.8% in June, while the core index increased 0.2%. The producer price index for finished goods increased 2.5% from June 2012 to June 2013.
• The import price index decreased 0.2% in June, while export prices decreased 0.1%. The import price index increased 0.2% from June 2012, while export prices increased 0.8%.
• The advance figure for initial claims for unemployment insurance increased 16 thousand to 360 thousand in the week ending July 6th.
• The results of Freddie Mac’s Primary Mortgage Market Survey of July 11th showed average fixed mortgage rates continuing to trend higher.
• 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 July 10th.
• The Thomson Reuters/University of Michigan Index of Consumer Sentiment, preliminary, decreased  slightly in early July.

• Total non-farm payroll employment rose 195 thousand to 135.902 million in June, in line with the average monthly gain of 182 thousand over the prior 12 months.
• The unemployment rate was unchanged at 7.6%.
• The average workweek of all employees on private nonfarm payrolls was unchanged at 34.5 hours. Average hourly earnings increased by 10 cents to $24.01.  Over the past 12 months, average hourly earnings were up 2.2%.
• The advance figure for initial claims for unemployment insurance decreased 5 thousand to 343  thousand in the week ending June 29th.
• Sales of domestic cars increased 8.0% in June, while total light vehicle (cars and light trucks) sales increased 4.3% Total vehicle sales were 15.890 million units in June, at a seasonally adjusted annual rate, compared to 14.334 million in  June of last year.
• New orders for  manufactured goods increased 2.1% in May, while shipments increased 1.0%.
• In May international trade deficit was $45.0 billion, $4.9 billion more than the revised April figure.
• Construction spending increased 0.5% in May. Private construction held steady, while public construction increased 1.8%.
• The results of Freddie Mac’s Primary Mortgage Market Survey of July 3rd showed average fixed mortgage rates reversing course after last week’s big jump that took rates to their highest levels since mid-2011.
• Mortgage applications  decreased 11.7% from a week earlier, according to data from Mortgage  Bankers Association’s (MBA) Weekly Applications Survey for the week ending  June 28th.
• The Institute for  Supply Management’s (ISM) manufacturing survey indicated that the manufacturing sector expanded in June following one month of contraction,  and the overall economy grew for the 49th consecutive month.
• In June, the Institute for Supply Management’s (ISM) non-manufacturing survey results indicated growth for the 42nd consecutive month.