Weekly Economic Update: July 14-18, 2014

Jul 22 2014

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Retail sales increased 0.2% in June. Business inventories rose 0.5% in May. The producer price index for total final demand rose 0.4% in June. Industrial production increased 0.2% in June. Housing starts declined 9.3% in June to an annualized pace of 0.893 million units. Building permits declined 4.2% to an annualized pace of 0.963 million units in June. Initial jobless claims fell 3,000 to 309,000 for the week ended 7/12.

• Retail sales increased 0.2% in June. Excluding autos, sales were up 0.4%; excluding autos & gas, sales were also up 0.4%.

• Business inventories rose 0.5% in May.

• The producer price index for total final demand rose 0.4% in June. Excluding food & energy, PPI-FD was up 0.2%; over the year, total PPI-FD is up 1.9%, and the core is up 1.7%.

• Industrial production increased 0.2% in June. Manufacturing was up 0.1%.

• Housing starts declined 9.3% in June to an annualized pace of 0.893 million units. The pace is up 7.5% on a year-ago basis.

• Building permits declined 4.2% to an annualized pace of 0.963 million units in June. The pace is up 2.7% on a year-ago basis.

• Initial jobless claims fell 3,000 to 309,000 for the week ended July 12th.

 

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