Weekly Economic Update: August 13-17, 2012

Aug 20 2012

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Industrial Production rose 0.6% in July. Retail sales increased 0.8% in July. The CPI was unchanged in July while the PPI increased 0.3%. Business inventories were up 0.1% in June. Housing starts fell 1.1% in July as building permits increased 6.8%. The U.S. Treasury reported a deficit of $69.6 billion in July. Initial jobless claims rose 2,000 to a level of 366,000 for the week ended 8/11.

• Industrial production increased 0.6% in July. This follows increases of just 0.1% in both May and June.

• Retail sales were up more than expected in July, rising 0.8%. July’s sales follow three months of declines, including a 0.7% decline in June.

• The topline consumer price index was unchanged in July. The core CPI edged up 0.1%.

• The topline producer price index increased 0.3% in July. The core PPI rose 0.4%.

• Business inventories rose 0.1% in June.

• Housing starts unexpectedly fell 1.1% to an annual rate of 746,000 units in July.

• Building permits increased 6.8% to an annual pace of 812,000 units in July.

• The U.S. Treasury reported a deficit of $69.6 billion in July.

• Initial jobless claims edged up 2,000 to a level of 366,000 for the week ended August 11th.

 

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