- Negligible rise follows three monthly declines.
- Changes are mixed amongst regions.
- USA| Jul 27 2023
U.S. Pending Home Sales Improve in June
by:Tom Moeller
|in:Economy in Brief
- USA| Jul 27 2023
U.S. Durable Goods Orders Surprised Again on the Upside in June
- Total orders jumped 4.7% in June.
- Ex-transportation, orders rose a more modest 0.6%.
- Shipments of durable goods rose 0.3%, while total inventories were largely unchanged.
- USA| Jul 27 2023
U.S. Advance June Goods Trade Deficit Narrowed
- Exports rose, the first monthly gain in three months.
- Imports fell, their fourth monthly decline in the past five months.
- The goods trade deficit widened in Q2, subtracting from GDP growth.
by:Sandy Batten
|in:Economy in Brief
- USA| Jul 27 2023
U.S. Unemployment Insurance Claims Ease by 7,000 in Latest Week
- Initial claims lowest since late February.
- Continuing claims also fall in their latest week.
- Insured unemployment rate dips to 1.1% after 12 weeks at 1.2%.
- United Kingdom| Jul 27 2023
UK Retail Sector continues to show signs of weakness
The latest estimates from the CBI Distributive Trades Survey indicate a sharp contraction in retail sales volume. The sharp fall in the expectations component further suggests that this weakness could persist through the coming month, presenting a challenging landscape for the retail sector.
The key messages from today’s survey included:• Headline sales volumes in the retail sector continued to decline for a third consecutive month. The balance of respondents suggesting comparing sales volumes with a year ago sales fell to -25% in July from -9% in June. The expectations balance in the meantime fell to -35% in July from a balance of zero in June.
• Forward-looking gauges, moreover, additionally hint that further weakness is to come. Underlying details of the survey, for example, revealed weakness in new orders and elevated finished inventory positions.
• Alongside this, the CBI Distributive Trade Survey reported a decline in wholesale sales volumes but at a slower pace in July (-9% from -15% in June). As for the expectation component, wholesalers anticipate volumes to fall at a similar pace next month.
• The balance for motor trade sales volumes also fell to -27% in July from -11% in June, with a modest decline in sales volume expected in August.
by:Kritika Jain
|in:Economy in Brief
- USA| Jul 26 2023
FOMC Increases Funds Rate As Expected
- Federal funds rate range raised to 5.25% - 5.50%.
- Rate is highest since March 2001.
- Fed’s focus remains on reducing inflation.
by:Tom Moeller
|in:Economy in Brief
- USA| Jul 26 2023
U.S. New Home Sales Decline & Prices Slip in June
- Sales fall after three months of strong increase.
- Regional sales patterns are mixed.
- Median sales price retraces much of May’s increase.
by:Tom Moeller
|in:Economy in Brief
- USA| Jul 26 2023
U.S. Mortgage Applications Fall as Interest Rates Steady
- Purchase applications decline and loan refinancing slips.
- Effective interest rate is little-changed w/w.
- Average loan size rebounds.
by:Tom Moeller
|in:Economy in Brief
- of10Go to 2 page