Economy in Brief: July 2016

The Philadelphia Federal Reserve reported that its General Factory Sector Business Conditions Index declined in July to -2.9 from an unrevised 4.7 in June. Despite the lower reading, it remained up from December's low of -10.2. The [...]

The National Activity Index from the Federal Reserve Bank of Chicago increased to 0.16 during June from -0.56 in May. Nevertheless, it still suggested below-trend overall economic growth. The three-month moving average reinforced this [...]

Sales of existing homes rose 1.1% (3.0% y/y) during June to 5.570 million (AR) after a May increase to 5.510 million, revised from 5.530 million. The latest level was the highest since February 2007. It surpassed expectations for 5.47 [...]

The Conference Board's Composite Index of Leading Economic Indicators increased 0.3% during June (0.7% y/y), following an unrevised 0.2% May decline. Expectations had been for a 0.2% rise in the Action Economics Forecast Survey. The [...]

The Philadelphia Federal Reserve reported that its General Factory Sector Business Conditions Index declined in July to -2.9 from an unrevised 4.7 in June. Despite the lower reading, it remained up from December's low of -10.2. The [...]

The Federal Housing Finance Agency's (FHFA) index of U.S. house prices rose a modest 0.2% m/m (5.6% y/y) in May following an upwardly revised 0.3% m/m (5.9% y/y) increase in April. Though the y/y change in nationwide house prices has [...]

Initial claims for unemployment insurance of 253,000 (-3.8% y/y) during the week ended July 16 compared to an unrevised 254,000 in the prior week. They remained near a record low. The Action Economics Forecast Survey expected 262,000 [...]

The Mortgage Bankers Association reported that its total Mortgage Market Volume Index fell 1.3% last week, yet rose roughly two-thirds y/y. Purchase applications declined 2.0% (+15.9% y/y). Refinancing applications eased 0.9%, but [...]