October 24th, 2015
- Housing starts in September were up 6.5% from the previous month, and were up 17.5% from a year ago. Building permits for September were down 5.0% from the previous month, but were up 4.7% from September 2014.
- September existing home sales were up 4.7% from the previous month, and were up 8.8% from September 2014, according to the National Association of Realtors. The median sales price of existing houses sold was $221.9 thousand, 6.1% above September 2014. There were 2,210 thousand homes for sale at the end of the month. This represents a supply of 4.8 months at the current sales rate, compared to 5.4 in September of 2014.
- The housing market index of National Association of Home Builders (NAHB) and Wells Fargo increased 3 points to 64 in October. The index was 57 in January and 54 in October of 2014.
- U.S. House prices rose 0.3% on a seasonally adjusted basis from July to August, according to the Federal Housing Finance Agency’s (FHFA) monthly House Price Index. For the 12 months ending in August, house prices rose 5.5%. The index is 0.9% below its March 2007 peak and is roughly the same as the December 2006 index level.
- The results of Freddie Mac’s Primary Mortgage Market Survey of October 22nd showed average fixed mortgage rates declining. 30-year fixed-rate mortgage averaged 3.79% for the week ending October 22nd, down from last week when it averaged 3.82%. A year ago at this time, the 30-year fixed rate averaged 3.92%.
- Mortgage applications increased 11.8% from a week earlier, according to data from Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending October 16th.
- The advance figure for initial claims for unemployment insurance increased 3 thousand to 259 thousand in the week ending October 17th, according to the U.S. Department of Labor. The 4-week moving average was 263.25 thousand, a decrease of 2 thousand from the previous week’s revised average. This was the lowest level for this average since December 15, 1973 when it was 256.75 thousand.
- Regional and state unemployment rates were little changed in September, according to the U.S. Bureau of Labor Statistics. Thirty-seven states and the District of Columbia had unemployment rate decreases from August, six states had increases, and seven states had no change. In September, nonfarm payroll employment decreased in 27 states, increased in 20 states and the District of Columbia, and remained unchanged in 3 states.
- Median weekly earnings of the nation’s 110.4 million full-time wage and salary workers were $803 in the third quarter of 2015, according to the U.S. Bureau of Labor Statistics, up 1.6% from a year earlier.
- The Conference Board index of leading economic indicators, which held steady in July and August, decreased 0.2% in September. The coincident index increased 0.2%, following a 0.1% increase in the previous month..
- Chicago FED National Activity Index was negative 0.37 in September, compared with negative 0.39 in August and positive 0.49 in July. The index was 0.19 in September of 2014.
- Kansas City FED Manufacturing Index revealed that economic activity in the Tenth District was weak and was expected to remain largely unchanged heading forward. The index was negative 1 in October, up from negative 8 in September, and negative 9 in August. The index was 3 in January 2015, and 4 in October of 2014.
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October 16th, 2015
- Advance estimates of retail and food services sales for September were up 0.1% from the previous month, and were up 2.4% from September 2014. Excluding motor vehicles & parts, retail sales were down 0.3% from the previous month, but were up 0.8% from a year ago.
- Total manufacturing and trade sales for August were down 0.6% from the previous month, and were down 3.1% from a year ago. Inventories in August were up less than 0.1%, and were up 2.4% from August 2014.
- Total Industrial production decreased 0.2% in September, following a 0.1% decrease in the previous month. The rate of capacity utilization was 77.5%, compared with 77.8 in the previous month.
- The federal government budget ran a surplus of $91.1 billion in September, after a deficit of $64.4 billion in the previous month, according to the Bureau of Fiscal Service, Department of the Treasury. The federal budget deficit was $438.9 billion for the fiscal year 2015, compared with a deficit of $483.4 billion for the fiscal year 2014.
- The producer price index for final demand, which held steady in August, decreased 0.5% in September. The core index, final demand for goods less food and energy, held steady in September. The producer price index for final demand decreased 1.1% from September 2014 to September 2015.
- The consumer price index (headline index) decreased 0.2% in September, following a 0.1% decrease in the previous month, according to the U.S. Bureau of Labor Statistics. The core index, which increased 0.1% in August, increased 0.2% in September. The consumer price index was unchanged from September 2014, while the core index increased 1.9%.
- The advance figure for initial claims for unemployment insurance decreased 7 thousand to 255 thousand in the week ending October 10th, according to the U.S. Department of Labor. The 4-week moving average was 265 thousand, a decrease of 2.25 thousand from the previous week’s revised average. This was the lowest level for this average since December 15, 1973 when it was 256.75 thousand.
- Real average hourly earnings for all employees increased 0.1% from August to September, seasonally adjusted, according to the U.S. Bureau of Labor Statistics. This result stems from unchanged average hourly earnings combined with a 0.2% decrease in the consumer price index for all urban consumers. Real average hourly earnings rose 2.2% from September 2014 to September 2015.
- The results of Freddie Mac’s Primary Mortgage Market Survey of October 15th showed average fixed mortgage rates moving slightly higher. 30-year fixed rate mortgage averaged 3.82% for the week ending October 15th, up from last week when it averaged 3.76%. A year ago at this time, the 30-year fixed rate mortgage averaged 3.97%.
- Mortgage applications decreased 27.6% from a week earlier, according to data from Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending October 9th.
- The October 2015 Empire State Manufacturing Survey indicated that business activity declined for a third consecutive month for New York manufacturers.
- The Philadelphia FED business outlook survey for October indicated weaker activity for the region’s manufacturing sector.
- The Thomson Reuters/University of Michigan Index of Consumer Sentiment, preliminary, for October was 92.1, up from 87.2 in September.
- The FED’s “Beige Book” indicated a continued modest expansion in economic activity during the reporting period from mid-August through early October.
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October 9th, 2015
- Sales of domestic cars increased 2.6% in September, while total light vehicle (cars and light trucks) sales increased 1.9%. Total vehicle sales were 18.1 million units in September, at a seasonally adjusted annual rate, compared to 17.7 million in the previous month, and 16.4 million in September of 2014.
- Sales of merchant wholesalers in August were down 1.0% from the previous month, and were down 4.7% from August 2014. Inventories were up 0.1% from the previous month, and were up 4.1% from a year ago. The August inventories/sales ratio was 1.31, compared with 1.20 a year ago.
- In August, international trade deficit was $48.3 billion, $6.5 billion more than the July figure. The cumulative trade deficit for the first eight months of 2015 was $354.4 billion, compared with a cumulative deficit of $336.8 billion during the first eight months of 2014.
- The import price index decreased 0.1% in September, following a 1.6% decrease in the previous month. Export prices decreased 0.7%, following a 1.4% decrease in the previous month. The import price index decreased 10.7% from September 2014, while the price index for exports decreased 7.4%.
- The advance figure for initial claims for unemployment insurance decreased 13 thousand to 263 thousand in the week ending October 3rd. The 4-week moving average was 267.5 thousand, a decrease of 3 thousand from the previous week’s revised average.
- August consumer credit outstanding increased at an annual rate of 5.6%. Revolving credits increased 5.3%, while non-revolving credits increased 5.7%.
- The results of Freddie Mac’s Primary Mortgage Market Survey of October 8th showed average fixed mortgage rates decreasing following a disappointing jobs report. 30-year fixed-mortgage average 3.76% for the week ending October 8th, down from last week when it averaged 3.85%. A year ago at this time, 30-year fixed-rate mortgage averaged 4.19%. 15-year fixed-rate mortgage averaged 2.99% for the week ending October 8th, down from 3.07%. A year ago at this time, 15-year fixed-rate mortgage was 3.36%.
- Mortgage applications increased 25.5% from a week earlier, according to data from Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending October 2nd.
- The Institute for Supply Management’s (ISM) non-manufacturing survey indicated that economic activity expanded in September for the 68th consecutive month.
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October 2nd, 2015
- Total non-farm payroll employment increased 142 thousand in September, following an increase of 136 thousand in the previous month. Private-sector payrolls increased by 118 thousand in the month, while government employment increased by 24 thousand.
- The number of unemployed persons decreased by 114 thousand to 7.915 million. The unemployment rate held steady at 5.1%. The unemployment rate was 5.9% in September of 2014.
- The average workweek of all employees on private nonfarm payrolls decreased 0.1 to 34.5 hours. Average hourly earnings decreased by a cent to $25.09, while average weekly earnings decreased by $2.85 to $865.61. Over the past 12 months, average hourly earnings and average weekly earnings were up 2.2%.
- The advance figure for initial claims for unemployment insurance increased 10 thousand to 277 thousand in the week ending September 26. The 4-week moving average was 270.75 thousand, a decrease of a thousand from the previous week’s average.
- Personal income increased 0.3% in August, while personal consumption expenditures increased 0.4%. The price index for personal consumption expenditures (headline index) was up 0.3% from August 2014, while the core index was up 1.3%.
- State personal income grew 0.9% on average in the second quarter, after growing 0.8% in the first quarter. Personal income grew in every state except Oklahoma in the second quarter.
- New orders for manufactured goods decreased 1.7% in August, while shipments decreased 0.7%. Year-to-date, new orders were down 7.2% from the same period in 2014 , while shipments were down 4.0%
- Construction spending in August was up 0.7% from the previous month, and was up 13.7% from August 2014.
- The Pending Home Sales Index, a leading indicator for the housing sector, decreased 1.4% in August, according to the National Association of Realtors. The index was up 6.1% from August 2014.
- The S & P/Case-Shiller National U.S. Home Price Index posted a year-over-year increase of 4.7%. The 10-city and 20-city composite indexes posted annual increases of 4.5% and 5.0%, respectively. As of July 2015, average home prices were back to their winter 2005 levels, and approximately 11-13% below their June/July 2006 peaks.
- The results of Freddie Mac’s Primary Mortgage Market Survey of October 1st showed average fixed mortgage rates were largely unchanged. 30-year fixed-rate mortgage averaged 3.85% for the week ending October 1st, down slightly from last week when it averaged 3.86%. A year ago at this time, the 30-year fixed-rate mortgage averaged 4.19%.
- Mortgage applications decreased 6.7% from a week earlier, according to data from Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending September 25th.
- The Conference Board’s consumer confidence index, which had increased in August, improved moderately in September.
- The Institute for Supply Management’s (ISM) manufacturing survey indicated that the manufacturing sector expanded in September for the 33rd consecutive month, and the overall economy grew for the 76th consecutive month.
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September 25th, 2015
- Real GDP increased at an annual rate of 3.9% in the second quarter, after increasing 0.6% in the previous quarter, according to the “third” estimate. In the second estimate, released a month ago, the increase in real GDP was 3.7%.
- Real gross domestic income increased 0.7% in the second quarter, compared with an increase of 0.4% in the previous quarter.
- The average of real GDP and real GDI, a supplemental measure of U.S. economic activity that equally weights GDP and GDI, increased 2.3% in the second quarter, compared with an increase of 0.5% in the first quarter.
- The price index for gross domestic purchases increased 1.5% in the second quarter, compared to a decrease of 1.6% in the previous quarter. Excluding food and energy, the price index increased 1.2%, compared with an increase of 0.2% in the previous quarter.
- Corporate profits from current production increased $70.4 billion in the second quarter, following a decrease of $123.0 billion in the previous quarter.
- New orders for manufactured durable goods decreased 2.0% in August, while shipments held steady. Year-to-date, new orders decreased 4.6% from the same period a year ago, while shipments increased 2.3%.
- August existing home sales were down 4.8% from the previous month, but were up 6.2% from a year ago. The median sales price of existing houses sold was $228.7 thousand, 4.7% above August 2014. There were 2.29 million houses for sale at the end of the month. This represents a supply of 5.2 months at the current sales rate, compared to 5.6 in August of 2014.
- August new home sales were up 5.7% from the previous month, and were up 21.6% from a year ago. The median sales price of new houses sold was $292.7 thousand, 0.3% above August 2014.
- U.S. House prices rose 0.6% on a seasonally adjusted basis from June to July, following a 0.2% increase in the previous period, according to the Federal Housing Finance Agency’s (FHFA) monthly House Price Index. For the 12 months ending in July, U.S. prices rose 5.8%. The 12-month changes were all positive, ranging from 2.1% in the New England division to 9.4% in the Mountain division. The U.S. index is 1.1% below its March 2007 peak and is roughly the same as the November 2006 index level.
- The results of Freddie Mac’s Primary Mortgage Market Survey of September 24th showed average fixed mortgage rates moving lower following the Federal Reserve announcement that it will defer a hike in the Federal funds rate. 30-year fixed-rate mortgage averaged 3.86% for the week ending September 24, down from last week when it averaged 3.91%. A year ago, at this time, the 30-year fixed-rate mortgage averaged 4.20%.
- Mortgage applications increased 13.9% from a week earlier, according to data from Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending September 18th.
- Domestic non-financial debt rose at a seasonally adjusted annual rate of 4.4% and reached $43,979 billion at the end of second quarter of 2015.
- The advance figure for initial claims for unemployment insurance increased 3 thousand to 267 thousand in the week ending September 19th. The 4-week moving average was 271.75 thousand, a decrease of 0.75 thousand from the previous week’s average.
- Regional and state unemployment rates were little changed in August. Twenty-nine states had unemployment rate decreases from July, 10 states had increases, and 11 states and the District of Columbia had no change.
- In August, nonfarm payroll employment increased in 32 states and decreased in 18 states and the District of Columbia.
- The Thomson Reuters/University of Michigan Index of Consumer Sentiment decreased to 87.2 in September, from 91.9 in August. This was the lowest level in eleven months, but it was still higher than in any prior month since May 2007.
- The Chicago FED National Activity Index fell to negative 0.41 in August, from positive 0.51 in July.
- The Federal Reserve Bank of Kansas City manufacturing survey revealed that Tenth District manufacturing activity declined at a pace as in previous months, while expectations for future activity dropped considerably.
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September 18th, 2015
- Advance estimates of retail and food services sales for August were up 0.2% from the previous month, and were up 2.2% from August 2014. Year-to-date, retail and food services sales were up 2.1% from the same period of 2014.
- Total manufacturing and trade sales for July were up 0.1% from the previous month, but were down 2.7% from July 2014. Total business inventories for July were up 0.1% from the previous month, and were up 2.6% from a year ago.
- Total Industrial production decreased 0.4% in August, after increasing 0.9% in the previous month.
- The rate of capacity utilization for total industry was 78.2%, 2.5 percentage points below its 1972-2014 average, and 0.6 percentage point below its level in August 2014.
- Housing starts in August were down 3.0% from the previous month, but were up 16.6 from a year ago. Building permits in August were up 3.5% from the previous month, and were up 12.5% from a year ago.
- The housing market index of National Association of Home Builders (NAHB) and Wells Fargo increased a point to 62 in September. The index was 57 in January, and 59 in September of 2014.
- The results of Freddie Mac’s Primary Mortgage Market Survey of September 17th showed average fixed mortgage rates largely unchanged. 30-year fixed-rate mortgage averaged 3.91% for the week ending September 17th, up slightly from last week when it averaged 3.90%. A year ago at this time, the 30-year fixed-rate mortgage averaged 4.23%.
- Mortgage applications decreased 7.0% from a week earlier, according to data from Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending September 11th.
- The current account deficit decreased to $109.7 billion in the second quarter, from $118.3 billion in the previous quarter. The deficit decreased to 2.5% of GDP in the second quarter, from 2.7% of GDP in the first quarter.
- The consumer price index (headline index) decreased 0.1% in August, following a 0.1% increase in the previous month. The core index increased 0.1%, the same increase as in the previous month. The consumer price index increased 0.2% for the 12-month period ending in August, while the core index increased 1.8%.
- The advance figure for initial claims for unemployment insurance decreased 11 thousand to 264 thousand in the week ending September 12th. The 4-week moving average was 272.5 thousand, a decrease of 3.25 thousand from the previous week’s average.
- Real average hourly earnings for all employees rose 0.5% from July to August. This result stems from a 0.3% increase in average hourly earnings combined with a 0.1% decrease in the consumer price index.
- From March 2014 to March 2015, employment increased in 323 of the 342 largest U.S. counties (counties with 75 thousand or more jobs in 2014), according to the U.S. Bureau of Labor Statistics. The U.S. average weekly wage increased 2.1% over the year, growing to $1,048 in the first quarter of 2015.
- The September 2015 Empire State Manufacturing Survey indicated that business activity declined for the second consecutive month for New York manufacturers.
- The Philadelphia FED business outlook survey for September gave mixed signals for manufacturing activity. The indicator for general activity fell into negative territory, but indicators for new orders, shipments, and employment remained positive. The index of current activity decreased to negative 6.0 in September, from positive 8.3 in August.
- The Conference Board index of leading economic indicators, which held steady in July, increased 0.1% in August. The coincident index increased 0.1%, following a 0.4% increase in July.
- The Federal Open Market Committee decided to keep its target for the federal funds rate at 0 to 0.25%, and indicated that economic conditions may warrant keeping the target rate below levels the Committee views as normal in the longer run.
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September 11th, 2015
- Sales of merchant wholesalers in July were down 0.3% from the previous month, and were down 4.2% from a year ago. Sales of durable goods increased 1.2%, while non-durable goods sales decreased 1.7%. In July, inventories of merchant wholesalers were down 0.1% from the previous month, but were up 4.9% from July 2014.
- The federal government budget ran a deficit of $64.4 billion in August, following a deficit of $149.2 billion in the previous month. The cumulative budget deficit for the first eleven months of fiscal year 2015 was $530.0 billion.
- July consumer credit outstanding increased at an annual rate of6.7%. Revolving credits increased 5.7%, while non-revolving credits increased 7.0%.
- The producer price index for final demand (headline index) held steady in August, following a 0.2% increase in the previous month. The index for final demand goods less foods and energy moved down 0.2%. The producer price index for final demand decreased 0.8% from August 2014.
- The import price index decreased 1.8% in August, while the export price index decreased 1.4%. The import price index decreased 11.4% from August 2014, while the price index for exports decreased 7.0%.
- The advance figure for initial claims for unemployment insurance decreased 6 thousand to 275 thousand in the week ending September 5th. The 4-week moving average was 275.75 thousand, an increase of 0.5 thousand from the previous week’s average.
- The number of jobs openings again rose to a series high of 5.8 million on the last business day of July. The number of hires and separations decreased down to 5.0 million and 4.7 million, respectively.
- The results of Freddie Mac’s Primary Mortgage Market Survey of September 10th showed average fixed mortgage rates relatively unchanged from the previous week. 30-year fixed-rate mortgage averaged 3.90% for the week ending September 10th, up slightly from last week when it averaged 3.89%.
- Mortgage applications decreased 6.2% from a week earlier, according to data from Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending September 4th.
- The Thomson Reuters/University of Michigan Index of Consumer Sentiment, preliminary, for September decreased to 85.7, from 91.9 in August. The index was 84.6 in September of 2014.
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September 4th, 2015
- Total non-farm payroll employment rose 173 thousand in August, following an increase of 245 thousand in the previous month. Private-sector payrolls increased by 140 thousand in the month, while government employment increased by 33 thousand.
- The unemployment rate decreased to 5.1% in August, from 5.3% in July. The unemployment rate was 6.1% in August of 2014.
- The average workweek of all employees on private nonfarm payrolls increased 0.1 to 34.6 hours.
- Average hourly earnings increased by 8 cents to $25.09. Over the past 12 months, average hourly earnings were up 2.2% and average weekly earnings were up 2.5%.
- The advance figure for initial claims for unemployment insurance increased 12 thousand to 282 thousand in the week ending August 29th. The 4-week moving average was 275.5 thousand, an increase of 3.25 thousand from the previous week’s revised average.
- Unemployment rates were lower in July than a year earlier in 359 of the 387 metropolitan areas, higher in 20 areas, and unchanged in 8 areas, according to the U.S. Bureau of Labor Statistics.
- Second quarter productivity increased 3.3% (seasonally adjusted annual rate) in the non-farm business sector, following a 1.1% decrease in the previous period. Hourly compensation rose 1.8%, while unit labor costs decreased 1.4%. From the second quarter of 2014 to the second quarter of 2015, productivity increased 0.7%, reflecting increases in output and hours worked of 3.3% and 2.6%, respectively.
- Average expenditures per consumer unit in 2014 were $53,495, up 4.7% from 2013, and average income before taxes was $66,877, up 4.8% from 2013. Shares of average annual expenditures by a married couple with children were: food: 12.9%, housing: 31.8%, transportation: 17.3%, healthcare: 7.3%, personal insurance & pensions: 12.5%.
- Sales of domestic cars decreased 3.2% in August, while total light vehicle sales increased 1.4%. Total vehicle sales were 17.7 million units in August, at a seasonally adjusted annual rate, compared to 17.2 million in August of 2014.
- New orders for manufactured goods increased 0.4% in July, while shipments decreased 0.2%. Excluding transportation, new orders were down 0.6% in July, and shipments were down 0.7%. Year-to-date manufacturers’ new orders were down 7.3%, while shipments were down 3.8%.
- In July, international trade deficit decreased $3.3 billion to $41.9 billion. Year-to-date, the deficit was $306.1 billion, compared with a cumulative deficit of $295.5 billion during the first seven months of 2014.
- Construction spending increased 0.7% in July. Private construction increased 1.3%, while public construction decreased 1.0%. July construction put in place was 13.7% above such construction in July 2014.
- The results of Freddie Mac’s Primary Mortgage Market Survey of September 3rd showed average fixed mortgage rates moving higher. 30-year fixed-rate mortgage averaged 3.89% for the week ending September 3, up from last week when it averaged 3.84%. A year ago at this time, the 30-year fixed-rate mortgage averaged 4.1%.
- Mortgage applications increased 11.3% from a week earlier, according to data from Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending August 28th.
- The Institute for Supply Management’s (ISM) manufacturing survey indicated that the manufacturing sector expanded in August for the 32nd consecutive month, and the overall economy grew for the 75th consecutive month.
- In August, the Institute for Supply Management’s (ISM) non-manufacturing survey results indicated growth in the non-manufacturing business activity for the 67th consecutive month.
- The FED’s “Beige Book” indicated that overall economic activity continued to expand across most regions and sectors during the reporting period from July to mid-August.
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August 28th, 2015
- Real GDP increased at an annual rate of 3.7% in the second quarter of 2015, according to the “second” estimate released by the Bureau of Economic Analysis, after increasing at 0.6% in the previous quarter. In the advance estimate, released a month ago, the increase in real GDP was 2.3%.
- The price index for gross domestic purchases increased 1.5% in the second quarter, compared to a decrease of 1.6% in the previous quarter.
- Corporate profits from current production increased $47.5 billion in the second quarter, after a decrease of $123.0 billion in the previous quarter.
- Personal income increased 0.4%, in July. Disposable personal income increased 0.5%, while personal consumption expenditures increased 0.3%.
- The price index for personal consumption expenditures (headline index) and the core index both increased 0.1% in July. The price index (headline index) was up 0.3% from July 2014, while the core index was up 1.2%.
- New orders for manufactured durable goods increased 2.0% in July, while shipments increased 1.0%. Year-to-date, new orders were down 5.1% from the same period in 2014, while shipments were up 2.5%.
- July new home sales increased 5.4% to an annualized rate of 507 thousand units. The July figure was 25.8% above the July 2014 figure. The median sales price of new houses sold was $285.9 thousand, 2.0% above July 2014.
- U.S. House prices rose 0.2% on a seasonally adjusted basis from May to June, following a 0.5% increase in the previous period, according to the Federal Housing Finance Agency’s (FHFA) monthly House Price Index. For the 12 months ending in June, U.S. house prices rose 5.6%.
- The S&P/Case-Shiller National Home Price Index recorded a year-over-year increase of 4.5% in June 2015. The S&P/Case-Shiller Home Price Indexes posted annual increases of 4.6% and 5.0% in the 12 months ending in June, for the 10-city and 20-city composite indices, respectively. As of June 2015, both indexes were back to their winter 2005 levels, and were approximately 12-14% below from their June/July 2006 peaks.
- The Pending Home Sales Index decreased 0.5% in July, according to the National Association of Realtors. The index was up 7.4% from July 2014.
- The results of Freddie Mac’s Primary Mortgage Market Survey of August 27th showed average fixed mortgage rates falling to their lowest levels since May amid ongoing global volatility. 30-year fixed-rate mortgage averaged 3.84% for the week ending August 27, down from last week when it averaged 3.93%. A year ago at this time, the 30-year fixed-rate mortgage averaged 4.10%.
- Mortgage applications decreased 0.2% from a week earlier, according to data from Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending August 21st.
- The advance figure for initial claims for unemployment insurance decreased 6 thousand to 271 thousand in the week ending August 22nd. The 4-week moving average was 272.5 thousand, an increase of a thousand from the previous week’s average.
- The Chicago FED National Activity Index rose to 0.34 in July, from negative 0.07 in June.
- The Federal Reserve Bank of Kansas City survey revealed that Tenth District manufacturing activity continued to decline moderately in August.
- The Federal Reserve Bank of Richmond survey indicated that Fifth District manufacturing activity slowed in August.
- The Conference Board’s consumer confidence index, which had declined in July, rebounded in August. The Index increased to 101.5 in August, from 91.0 in July.
- The Thomson Reuters/University of Michigan Index of Consumer Sentiment decreased to 91.9 in August, from 93.1 in July.
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August 21st, 2015
- Housing starts in July were up 0.2% from the previous month, and were up 10.1% from July 2014.
- Building permits in July were down 16.3% from the previous month, but were up 7.5% from a year ago.
- July existing home sales increased 2.0% to an annualized rate of 5,590 thousand units. The July figure was 10.3% above the July 2014 figure. The median sales price of existing houses sold was $234.0 thousand, 5.6% above July 2014.
- The housing market index of National Association of Home Builders (NAHB) and Wells Fargo increased a point to 61 in August. The index was 57 in January of this year and 55 in August of 2014.
- The results of Freddie Mac’s Primary Mortgage Market Survey of August 20th showed average fixed mortgage rates largely unchanged from the previous week, and remained under 4.0% for the fifth consecutive week. The 30-year fixed-rate mortgage averaged 3.93% for the week ending August 20, down from last week when it averaged 3.94%. A year ago at this time, the 30-year fixed rate averaged 4.10%.
- Mortgage applications increased 3.6% from a week earlier, according to data from Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending August 14th.
- The consumer price index (headline index) and the core index both increased 0.1% in July. The consumer price index increased 0.2% for the 12-month period ending in July, while the core index rose 1.8%.
- Real average hourly earnings for all employees increased 0.1% from June to July. This result stems from 1 0.2% increase in average hourly earnings being offset by a 0.1% increase in the consumer price index.
- The advance figure for initial claims for unemployment insurance increased 4 thousand to 277 thousand in the week ending August 15th. The 4-week moving average was 271.5 thousand, an increase of 5.5 thousand from the previous week’s average.
- Regional and state unemployment rates were little changed in July. Twenty-four states and the District of Columbia had unemployment rate decreases from the previous month, 14 states had increases, and 12 states had no change. In July 2015, nonfarm payroll employment increased in 34 states and decreased in 16 states and the District of Columbia.
- The August 2015 Empire State Manufacturing Survey indicated that business activity declined for New York manufacturers. The general business conditions index plummeted nineteen points to negative 14.9, its lowest level since 2009.
- The Philadelphia FED business outlook survey for August reported increased manufacturing activity.
- The Conference Board index of leading economic indicators decreased 0.2% in July, following a 0.6% increase in June. The coincident index increased 0.2% in July, the same increase as in the previous month.
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