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July’s consumer and producer prices, retail sales, and existing home sales; June’s business inventories

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The major economic reports released last week were the July Consumer Price Index and the July Producer Price Index , and the June Import-Export Price Index , all from the Bureau of Labor Statistics, the Retail Sales Report for July and the concurrently released Business Sales and Inventories report for June , both from the Census bureau, and the Existing Home Sales Report for July from the National Association of Realtors (NAR)...in addition, this week also saw the Consumer Credit Report for June from the Fed, which reports on non-real estate consumer borrowing, and which indicated consumer credit outstanding grew by a seasonally adjusted $14.2 billion in June, or at a 3.3% annual rate, as non-revolving credit grew at a 2.3% rate to $3,815.8 billion, while revolving credit outstanding grew at a 6.0% rate to $1,351.1 billion…for the second quarter, consumer credit grew at a 2.6% annual rate, with revolving credit up at an 3.9% annual and non-revolving credit up at a 2.1% annual rate...
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July’s jobs report; June’s trade deficit, construction spending, factory inventories, wholesale trade, and JOLTS

Major economic reports released the past week included the Employment Situation Summary for July and the Job Openings and Labor Turnover Survey (JOLTS) for June , both from the Bureau of Labor Statistics, and four June reports that included metrics which were only estimated in last week’s release of 2nd quarter GDP: the Commerce Department’s report on our International Trade for June , the June report on Construction Spending (pdf), the Full Report on Manufacturers’ Shipments, Inventories and Orders for June , and the June report on Wholesale Trade, Sales and Inventories , all of which were from the Census Bureau… Privately issued reports included the ADP Employment Report for July , wherein the national payroll processor reported a 44,000 increase in private jobs in July, the light vehicle sales report for July from Wards Automotive, which is the source data for the BEA report, and which reported that vehicles sold at a 16.3 million annual rate in July, down the 16.4 million annual...
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2nd quarter GDP; June’s reports on income and outlays, and on durable goods

The key economic releases from last week were the 1st, or advance estimate of 2nd quarter GDP and the June report on Personal Income and Spending , and a June report that included metrics which were later included in the week’s release of 2nd quarter GDP: the June advance report on durable goods ….this week also saw the release of the S&P CoreLogic Case-Shiller home price indexes for May from S&P Global , which is based on a 3-month average of March, April and May home repeat sales closing prices, and which reported that their national home price index was 1.1% higher than their home price index over the same three months of a year ago, up from the 0.9% annual increase they reported for April, but down from the 2.3% annual increase they reported a year ago…. This week also saw the release of the last two regional Fed manufacturing survey for July: the Dallas Fed’s Texas Manufacturing Outlook Survey , which also covers adjacent western Louisiana and southeastern New Mexico, ind...
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