Key Economic Indicators – August 29, 2016

  • Real GDP increased at an annual rate of 1.1% in the second quarter, according to the “second” estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP increased 1.2%.
  • The price index for gross domestic product increased 2.3% in the second quarter, following a 2.2% increase in the first quarter.
  • Existing home sales decreased 3.2% to a seasonally adjusted annual rate of 5.39 million in July, from 5.57 million in the previous month, according to the National Association of Realtors. The median existing home price in July was $244.1 thousand, down 1.4% from a year ago.
  • Mortgage applications decreased 2.1% from a week earlier, according to data from Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending August 19th.
  • The advance figure for initial claims for unemployment insurance was 261 thousand in the week ending August 20, a decrease of a thousand from the previous week’s level. The 4-week moving average was 264 thousand, a decrease of 1.25 thousand from the previous week’s average.

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