Key Economic Indicators – July 13, 2015

  • Sales of merchant wholesalers, except manufacturers’ sales branches and offices in May were up 0.3% from April, while inventories were up 0.8%.  Sales were down 3.8% from May 2014, while inventories were up 5.0%.
  • In May international trade deficit was $41.9 billion, up $1.2 billion from $40.7 billion in April. Year-to-date, the deficit was $212.8 billion, up $1.1 billion from the same period in 2014.
  • May consumer credit outstanding increased at an annual rate of 5.7%. Revolving credits increased at an annual rate of 2.1%, while non-revolving credits increased 7.0%.
  • The advance figure for initial claims for unemployment insurance increased 15 thousand to 297 thousand in the week ending July 4th. The 4-week moving average was 279.5 thousand, an increase of 4.5 thousand from the previous week’s average.
  • The results of Freddie Mac’s Primary Mortgage Market Survey of July 9th showed average fixed mortgage rates moving lower. 30-year fixed-rate mortgage averaged 4.04% for the week ending July 9th, down from last week when it averaged 4.08%. A year ago at this time, the 30-year fixed rate mortgage averaged 4.15%.
  • Mortgage applications increased 4.6% from a week earlier, according to data from Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending July 8th.
  • In June, the Institute for Supply Management’s (ISM) non-manufacturing survey results indicated growth for the 65th consecutive month.

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