Aug 04 2014
The pending home sales index was down 1.1% in June to a level of 102.7. The Case-Shiller home price index fell 0.3% in May. In an advance estimate, second quarter GDP rose an annualized 4.0%. The FOMC announced that policy rates are unchanged at a target level of 0 to 0.25%, and tape remains on schedule to end with the October FOMC meeting. The economy added 209,000 nonfarm payroll jobs in July while the unemployment rate ticked up to 6.2%. Personal income rose 0.4% in June while personal spending rose 0.4%. The ISM index increased 1.8 points to 57.1 in July. Construction spending fell 1.8% in June. Vehicle sales fell 2.48% in July to a lower-than-expected 16.48 million annual unit rate. Initial jobless claims rose 23,000 to 302,000 for the week ended 7/26.