Key Economic Indicators – August 11, 2014

  • Sales of domestic cars decreased 2.0% in July, while total light vehicle (cars and light trucks) sales decreased 2.7%. Total vehicle sales were 16.4 million units in July, at a seasonally adjusted annual rate, compared to 16.8 million in the previous month, and 15.7 million in July of 2013.
  • New orders for manufactured goods increased 1.1% in June, while shipments increased 0.5%.
  • Sales of merchant wholesalers in June were up 0.2% from the previous month, while inventories were up 0.3%.
  • In June, international trade deficit was $41.5 billion, $3.2 billion less than the revised May figure. The cumulative trade deficit for the first half of 2014 was $260.1 billion, compared with a cumulative deficit of $242.7 billion during the first half of 2013.
  • June consumer credit outstanding increased at an annual rate of 6.5%. Revolving credits increased at an annual rate of 1.3%, while non-revolving credits increased 8.4%.
  • The advance figure for initial claims for unemployment insurance decreased 14 thousand to 289 thousand in the week ending August 2.
  • The results of Freddie Mac’s Primary Mortgage Market Survey of August 7th showed average fixed mortgage rates moving slightly higher while remaining near their year’s lows.
  • Mortgage applications increased 1.6% from a week earlier, according to data from Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending August 1st.
  • In July, the Institute for Supply Management’s (ISM) non-manufacturing survey results indicated growth in the non-manufacturing business activity (exceeded 50.0%) for the 54th consecutive month.

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