Weekly Economic Update: July 21-25, 2014

Jul 28 2014

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The consumer price index increased 0.3% in June while core CPI increased 0.1%. Existing home sales rose a higher-than-expected 2.6% to an annual rate of 5.04 million units for June. New home sales slowed to an annual rate of 406,000 units in June. Durable goods orders increased 0.7% for June. Initial jobless claims fell 19,000 to 284,000 for the week ended 7/19.

• The consumer price index increased 0.3% in June while core CPI increased 0.1%. On a year-ago basis, headline CPI is up 2.1% and core CPI is up 1.9%.

• Existing home sales rose a higher-than-expected 2.6% to an annual rate of 5.04 million units for June. On a year-ago basis, existing home sales are still down 2.3%. The median price rose 5.3% to $223,300, up 4.3% over the year.

• New home sales slowed to an annual rate of 406,000 units in June. The year-on-year rate is down 11.5%. The median price fell 3.2% to $273,500 for a year-on-year rate of 5.3%.

• Durable goods orders increased 0.7% for June. Excluding transportation, orders were up 0.8%.

• Initial jobless claims fell 19,000 to 284,000 for the week ended July 19th. The level is a recovery low; the lowest since 2006.

 

 

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