Economy in Brief: July 2013

Consumer credit saw a marked monthly gain in May, but the year-on-year trend remained steady. The May total was up $19.6B, following April's $10.9B, revised slightly from $11.1B reported initially. The y/y move, though, was 5.8%, [...]

German industrial orders fell by 1.3% in May after falling by 2.2% in April. The May drop marks a two consecutive month drop for overall orders. Foreign orders have fallen for two months in a row as have domestic orders marking the [...]

Nonfarm payroll employment during June increased 195,000 (1.7% y/y). That followed revised gains of 195,000 and 199,000 during the prior two months, earlier reported as 175,000 and 149,000, respectively. Consensus expectations were [...]

The U.S. foreign trade deficit increased during May to its deepest in six months. The May deficit of $45.0 billion compared to a little-revised $40.1 billion in April. A $40.0 billion deficit had been expected. A 1.9% rebound (0.7% [...]

The Composite Index for the service and construction sectors from the Institute for Supply Management (ISM) fell to 52.2 during June from 53.7 in May. This latest level was the lowest since February 2010 and disappointed consensus [...]

Initial unemployment insurance claims fell to 343,000 (-8.3% y/y) during the week ended June 29 from an upwardly revised 348,000 during the week prior. Consensus expectations were for 345,000 claims. The four week moving average of [...]

The rate of new job creation has strengthened moderately. The ADP/Moody's National Employment Report showed a 188,000 rise (1.7% y/y) in non-farm private sector jobs last month. That followed revised increases of 134,000 and 124,000 [...]

Auto dealer showrooms were bustling last month.Unit sales of light motor vehicles recovered 4.2% during June versus May to 15.96 million (SAAR), up 11.0% y/y, according to the Autodata Corporation. Setting a recovery high, sales were [...]