- 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.
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