- Real GDP increased at an annual rate of 4.2% in the second quarter, according to the “second” estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP decreased 2.1%. In the advance estimate, released a month ago, the increase in real GDP was 4.0%.
- The price index for gross domestic purchases increased 1.9% in the second quarter, compared to an increase of 1.4% in the previous quarter.
- Real final sales of domestic product (GDP less change in private inventories) increased 2.8% in the second quarter, following a decrease of 1.0% in the first quarter.
- Profits from current production increased $154.9 billion in the second quarter, in contrast to a decrease of $201.7 billion in the first quarter.
- Personal income increased 0.2%, in July, while personal consumption expenditures decreased 0.1%. Real disposable personal income increased 0.1% in July, while real personal consumption expenditures decreased 0.2%
- The price index for personal consumption expenditures increased 0.1% in July. The core index, excluding food and energy, was also up 0.1% from the previous month. The price index (headline index) was up 1.6% from July 2013, while the core index was up 1.5%
- New orders for manufactured durable goods increased 22.6% in July, while shipments increased 3.3%. Excluding transportation, new orders decreased 0.8%, while shipments increased 1.4%. Year to date, new orders were up 8.2% from a year ago, while shipments were up 4.8%.
- July new home sales were down 2.4% from the previous month, but were up 12.3% from July 2013. The median sales price of new houses sold was $269.8 thousand, 2.9% above a year ago.
- The Pending Home Sales Index, a leading indicator for the housing sector, increased 3.3% to 105.9 in July, according to the National Association of Realtors.
- The Federal Housing Finance Agency (FHFA) purchase-only seasonally adjusted house price index rose 0.8% in the second quarter. This was the twelfth consecutive quarterly price increase. The index was up 5.2% from the second quarter of 2013.
- The S & P/Case-Shiller National U.S. Home Price Indices showed a sustained slowdown in price increases. The National Index posted an annual increase of 6.2% in the 12 months ending in June, while the 20-city Composite Index rose 8.1%.
- The results of Freddie Mac’s Primary Mortgage Market Survey of August 28th showed average fixed mortgage rates largely unchanged. 30-year fixed-rate mortgage averaged 4.10%, unchanged from the previous week.
- Mortgage applications increased 2.8% from a week earlier, according to data from Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending August 22nd.
- The advance figure for initial claims for unemployment insurance decreased a thousand to 298 thousand in the week ending August 23. The 4-week moving average was 299.750 thousand, a decrease of 1.250 thousand from the previous week’s revised average.
- The Conference Board’s consumer confidence index, which had increased in July, improved further in August.
- The Thomson Reuters/University of Michigan Index of Consumer Sentiment was up in August.
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