Category Archives: From the Desk of Robert Dye

July Industrial Production, Leading Indicators, August UI Claims

Auto Assemblies Fall, but Leading Indicators are Positive Industrial Production increased by 0.2 percent in July as vehicle assemblies fell. The Conference Board’s Leading Economic Index increased by 0.3 percent in July. Initial Claims for Unemployment Insurance fell by 12,000 … Continue reading

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July Housing Starts, NAHB, Mortgage Apps

Residential Construction is Bifurcating, Multifamily Slumps Housing Starts decreased by 4.8 percent in July to a 1,155,000 unit annual rate. Permits for new residential construction decreased by 4.1 percent to a 1,223,000 unit pace in July. Builder Confidence increased in … Continue reading

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July Retail Sales, Import Prices

Autos Pull Retail Sales Up in July May Retail Sales increased by 0.6 percent, as auto sales gained 1.2 percent. The Import Price Index increased by 0.1 percent in July. Retail sales for July showed a solid 0.6 percent increase, … Continue reading

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Comerica Economic Weekly

Economic data for the week were consistent with an ongoing moderate GDP expansion through the third quarter. Inflation data, from the CPI and the PPI will be scrutinized this fall to see if there is a pickup in the rate … Continue reading

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July PPI, August UI Claims

  Wholesale Inflation Weak, Claims Very Low The Producer Price Index for Final Demand decreased by 0.1 percent in July. Initial Claims for Unemployment Insurance gained 3,000 for the week ending August 5, to hit 244,000. Producer price inflation remains … Continue reading

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Jobs and Inflation and the Intersection of Monetary and Fiscal Policy

The U.S. job machine remains engaged. After a strong 231,000 net new payroll jobs were created in June, another 209,000 were created in July. In five of the first seven months of this year, more than 200,000 net new payroll … Continue reading

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Comerica Economic Weekly

Economic data for the week highlighted the strength of the U.S. labor market, and were consistent with moderate GDP growth in the third quarter. The ISM Non-Manufacturing Index for July eased to a still-positive 53.9, down from a strong 57.4 … Continue reading

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July U.S. Employment

July Payrolls Up by 209,000, Unemployment Rate Down to 4.3 Percent Payroll Employment increased by 209,000 jobs in July, exceeding expectations. The Unemployment Rate for June dipped back down to 4.3 percent. Average Hourly Earnings were up by 2.5 percent … Continue reading

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July ISM Non-MF Index, UI Claims

Broad Economic Indexes Eased in July The ISM Non-Manufacturing Index for July decreased to a still-positive 53.9. Initial claims for unemployment insurance fell by 5,000 for the week ending July 29, to 240,000. The ISM Non-Manufacturing Index for July eased … Continue reading

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July ADP Employment, Mortgage Applications

Private Sector Jobs Report Looks Good The July ADP Employment Report showed a solid net gain of 178,000 private sector jobs. Mortgage Applications fell by 2.8 percent for the last week of July. Based on today’s release of the July … Continue reading

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