- 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.
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