Monthly Archives: July 2013

June Residential Construction, Bernanke Testimony

Construction Corrects After Strong Run, Bernanke Reaffirms Desire to Wind Down QE3 June Housing Starts fell by 9.9 percent to an 836,000 unit annual rate, slowest since August 2012. Permits for new residential construction dropped in June by 7.5 percent … Continue reading

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June Consumer Prices, Industrial Production, Retail Sales, May Inventories

Data Consistent with September QE Unwind, Bernanke Testimony Likely to be Cautious The June Consumer Price Index increased by 0.5 percent as energy prices increased. The June Core CPI increased by 0.2 percent, dampening fears of deflation. Industrial Production expanded … Continue reading

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A Weak Q2, But Increasing Momentum Through H2

The recently completed second quarter looks vulnerable to a weak GDP print. The drag from fiscal tightening will combine with mediocre business investment, a widening trade gap and weak inventory accumulation to bring overall economic growth back into the “weak-to-modest” … Continue reading

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Comerica Economic Weekly

It was a light week for economic data following the short, but data intensive, 4th of July holiday week. Last Friday‘s jobs report for June was positive, both in terms of the June payroll gain, but also in terms of … Continue reading

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June ADP Employment, ISM-NMF Index, Auto Sales, UI Claims, May Trade

U.S. economic data heading into the July 4th holiday was generally positive and consistent with the idea that the economy is maintaining moderate momentum at the start of the third quarter. Continue reading

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June ISM Manufacturing, May Construction Spending

Indicators Show Moderate Growth in Just-Completed Second Quarter  The ISM Manufacturing Index for June increased to 50.9 percent, indicating slight improvement. Construction Spending for May gained 0.5 percent, held down by weak private non-residential activity. We cross the mid-year 2013 … Continue reading

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