Key Economic Indicators – August 1, 2016

  • Real GDP increased at an annual rate of 1.2% in the second quarter, according to the “advance” estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP increased 0.8%.
  • The price index for gross domestic product increased 2.2% in the second quarter, following a 0.5% increase in the first quarter.
  • The employment cost index rose 0.6% in the second quarter, the same increase as in the previous quarter. The index was up 2.3% from a year ago.
  • The advance figure for initial claims for unemployment insurance was 266 thousand in the week ending July 23, an increase of 14 thousand from the previous week’s revised level. The 4-week moving average was 256.5 thousand, a decrease of a thousand from the previous week’s revised average.
  • Mortgage applications decreased 11.2% from a week earlier, according to data from Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending July 22nd.
  • The Thomson Reuters/University of Michigan Index of Consumer Sentiment decreased to 90.0 July, from 93.5 in June.


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