Category Archives: United States

July New Home Sales, August Mortgage Applications

Housing Hits a Wall New Home Sales fell by 9.4 percent in July, to a 571,000 unit annual rate. Mortgage Applications for Purchase declined by 1.5 percent for the week ending August 18. New home sales were much weaker than … Continue reading

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Comerica Economic Weekly

U.S. economic data released in the third week of August was generally benign and consistent with moderate GDP growth through the third quarter. Retail sales for July showed a solid 0.6 percent increase, aided in part by improved auto sales. … Continue reading

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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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