Key Economic Indicators – August 19, 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.

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