• Advance estimates of retail and food services sales for July were up 0.7% from the previous month and were up 3.4% from July 2018. Year-to-date, retail sales were up 3.1% from the same period a year ago.
  • Total manufacturing and trade sales for June were up 0.1%, while inventories held steady. The total business inventories/sales ratio at the end of June was 1.39, compared with 1.34 in June 2018.
  • Total Industrial production decreased 0.2% in July, following a 0.2% increase in the previous month. The index of industrial production in July was 0.5% above its year-ago level. The rate of capacity utilization for total industry was 77.5%, 2.3 percentage points below its 1972-2018 average, and 1.3 percentage points below its level in July 2018.
  • The import price index increased 0.2% in July, following a 1.1% decrease in the previous month. The export price index increased 0.2%, following a 0.6% decrease in the previous month. The import price index decreased 1.8% from July 2018, while export prices decreased 0.9%.
  • The consumer price index increased 0.3% in July, after an increase of 0.1% in the previous month. The core index increased 0.3%, the same increase as in the previous month. The consumer price index (headline index) increased 1.8% for the 12-month period ending in July, and the core index rose 2.2%.
  • Real average hourly earnings for all employees decreased 0.1% from June to July. This result stems from a 0.3% increase in average hourly earnings combined with a 0.3% increase in the consumer price index for all urban consumers.
  • Nonfarm business sector labor productivity increased 2.3% in the second quarter of 2019, according to the U.S. Bureau of Labor Statistics, as output increased 1.9% and hours worked decreased 0.4%. From the second quarter of 2018 to the second quarter of 2019, productivity increased 1.8%, reflecting a 2.6% increase in output and a 0.8% increase in hours worked. Unit labor costs in the nonfarm business sector increased 2.4% in the second quarter of 2019 and increased 2.5% over a year ago.
  • The advance figure for initial claims for unemployment insurance was 220 thousand in the week ending August 10, an increase of 9 thousand from the previous week’s level. The 4-week moving average was 213.75 thousand, an increase of a thousand from the previous week’s average.
  • The results of Freddie Mac’s Primary Mortgage Market Survey showed average fixed mortgage rates remained near historical lows. The 30-year fixed mortgage rate averaged 3.60% for the week ending August 15, unchanged from last week. A year ago at this time, the 30-year fixed rate averaged 4.53%. The 15-year fixed mortgage rate averaged 3.07%, up from last week when it averaged 3.05%. year ago at this time, the 15-year fixed rate averaged 4.01%.
  • Mortgage applications increased 21.7% from a week earlier, according to data from Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending August 9th.
  • Sales of merchant wholesalers in June were down 0.3% from the previous month and were down 0.2% from June of 2018. Sales of durable goods were up 0.2%, while sales of nondurable goods were down 0.7%. Inventories of merchant wholesalers were up less than 0.1% from the previous month and were up 7.6% from a year ago.  The June inventories/sales ratio was 1.36, compared with 1.26 a year ago.
  • The results of Freddie Mac’s Primary Mortgage Market Survey showed average fixed mortgage rates dropped significantly. The 30-year fixed mortgage rate averaged 3.60% for the week ending August 8, down from last week when it averaged 3.75%. This was the lowest rate since November 2016. The 15-year fixed mortgage rate averaged 3.05%, down from last week when it averaged 3.20%.
  • Mortgage applications increased 5.3% from a week earlier, according to data from Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending August 2nd.
  • The producer price index for final demand (headline index) increased 0.2% in July, following a 0.1% increase in the previous month.  The index for final demand less foods, energy, and trade decreased 0.1%, after holding steady in the previous month. The producer price index for final demand increased 1.7% for the 12 months ended in July. The index for final demand less foods, energy, and trade also increased 1.7% during the same period.
  • The advance figure for initial claims for unemployment insurance decreased 8 thousand to 209 thousand in the week ending August 3. The 4-week moving average was 212.25 thousand, an increase of 0.25 thousand from the previous week’s average.
  • The number of job openings little changed at 7.3 million on the last business day of June, according to the U.S. Bureau of Labor Statistics. Over the month, hires and separations were little changed at 5.7 million and 5.5 million, respectively.
  • Total non-farm payroll employment rose by 164 thousand in July, following an increase of 193 thousand in the previous month, according to the U.S. Bureau of Labor Statistics. Private-sector payrolls increased by 148 thousand in July, while government employment increased by 16 thousand. Notable job gains occurred in professional and technical services, health care, social assistance, and financial activities.
  • The unemployment rate held steady at 3.9% in July. The unemployment rate was 3.9% in July 2018.
  • The number of unemployed increased by 88 thousand to 6.063 million. The number of long-term unemployed (those jobless for 27 weeks or more) decreased by 248 thousand to 1.166 million and accounted for 19.2% of the unemployed.
  • The labor force participation rate increased by 0.1 percentage point to 63.0% in July.
  • The average workweek of all employees on private nonfarm payrolls decreased by 0.1 hours to 34.3 hours.
  • In July, average hourly earnings of all employees on private nonfarm payrolls increased by 8 cents to $27.98. Over the past 12 months, average hourly earnings were up 3.2%.
  • The Federal Open Market Committee decided to lower the target range for the federal funds rate by 25  basis points to 2% to 2,25%.