Economy in Brief: July 2002

GDP growth last quarter was quite a bit weaker than Consensus expectations for a 2.3% rise. Growth during prior quarters was revised lower including three consecutive quarters of negative growth in early 2001. Weakness last quarter [...]

The Conference Board’s Index of Consumer Confidence fell more than expected in July. June's level was little revised. The decline reflected lower readings of the present situation as well as expectations. The 8.7% m/m decline in the [...]

The OECD Index of Leading Indicators improved further in May. The index rose to the highest level since October 2000, continuing an uptrend that began this past November. Real economic growth in the Major Seven OECD countries also [...]

The full-month July reading of Consumer Sentiment from the University of Michigan was firmer than Consensus expectations. The index fell sharply from June, but not by as much as the mid-month reading may have suggested. The index for [...]

Durable goods orders collapsed unexpectedly last month. May figures were unrevised for the total. Orders for nondefense capital goods fell sharply due to broad based declines. May figures were revised lower due mostly to lowered [...]

The trade weighted value of the US dollar rose more than 1% yesterday in a brief reversal of a trend that has carried the dollar's trade weighted value down more than 10% since February. During the dollar's decline, the deflating [...]

Chain store sales rose 0.4% following a 0.3% decline the week prior according to the BTM-UBSW survey. So far, July sales are 0.3% above the June average versus a 2.0% gain in June vs. May. During the last five years there has been a [...]

The Weekly Leading Index of the US economy published by the Economic Cycle Research Institute (ECRI) continued a sideways movement that began after reaching a peak in late May. The index has moved in a band between 122 and 124 since. [...]