July sales were much lower than expected, dropping by 2.2% on the month compared to a forecasted decline of only 0.2% earlier. … READ MORE >
Industrial production and housing rebound in July, affirming GDP growth outlook
Industrial production, housing starts and permits rebounded in July, affirming RSM’s third-quarter GDP growth outlook. … READ MORE >
Robust retail sales data in July raises Q3 GDP forecast
American consumers continued to show a robust spending appetite in July as sales from retail and food services came in much hotter than expected. … READ MORE >
Producer prices, consumer sentiment data show signs of more price stability
Together with Thursday’s data on the consumer price index, this indicates that the bar for another rate hike in September is getting higher. … READ MORE >
Near-target inflation fuels hope of soft landing for economy
Inflation stabilized further in July as the consumer price index data met expectations, the Bureau of Labor Statistics reported on Thursday.
The slight uptick in annual inflation to 3.2% from 3.0% could be dismissed due to the base year effect, as inflation has come down fast from a peak in June last year. … READ MORE >
Service sector growth eases in July
The Institute for Supply Management’s index for services inched down to 52.7 in July from 53.9 in June, indicating expansion for the seventh straight month. … READ MORE >
New data points to further economic slowdown and disinflation
Job openings fell to 9.58 million in June, the lowest since April 2021, according to government data released on Tuesday. … READ MORE >
Fed’s key wage gauge falls to lowest level since June 2021
The Employment Cost Index—the Federal Reserve’s closely watched metric on wage growth—increased by 1.0% in the second quarter, the slowest since June 2021. … READ MORE >
Business orders for equipment rise despite higher borrowing costs
New orders for core capital goods, a proxy for business investment, came in higher than forecast in June, rising by 0.2%, the Commerce Department reported on Thursday. … READ MORE >
Housing starts and permits drop in June as rates surge
New residential starts fell by 8% on the month, while permits for new buildings declined by 3.7%, the Commerce Department reported on Wednesday. … READ MORE >









