A recap of this week’s U.S. economic news:
- Chicago National Activity Index increased to a reading of -0.30 in May.
- Dallas Fed manufacturing survey improved tremendously in June to a reading of +6.5.
- Vehicle miles driven were up 1.13% Y/Y in April.
- New orders for durable goods increased 3.6% in May, are now up 6.4% Y/Y.
- Store sales last week were +2.7% Y/Y and +2.9% Y/Y.
- S&P Case-Shiller house prices increased 2.5% in April bringing the Y/Y gains to 12.1%.
- FHFA house prices increased 0.7% in April bringing the Y/Y gains to 7.44%.
- Consumer confidence jumped to a reading of 81.4 in June.
- New home sales increased to a SAAR of 476k in April.
- Richmond Fed manufacturing moved into expansion with a +8 reading in June.
- GDP in for the first quarter of 2013 was revised down from +2.4% to +1.8%.
- In May, real disposable personal income was +1.1% Y/Y, real personal consumption expenditures were +1.8% Y/Y.
- Initial jobless claims last week were at 346k.
- Kansas City Fed manufacturing moved into contraction in June at -5.
- The Chicago PMI declined to a reading of 51.6 in June.
- Final consumer sentiment in June decreased to 84.1.
U.S. economic data releases next week:
- Construction spending – May – Last +4.3% Y/Y.
- ISM manufacturing survey – June – Last 49.0.
- Motor vehicle sales – June – Last SAAR 15.31 million.
- Gasoline prices – June – Last $3.615 per gallon.
- Weekly store sales
- Factory orders – May – Last +0.2% Y/Y.
- ADP employment report – June – Last +135k.
- International trade – May – Last monthly trade deficit was $40.3 billion.
- ISM non-manufacturing survey – June – Last 53.7.
- July 4th holiday.
- The employment situation – June- Last +175k jobs, U-3 7.6%.
- Weekly initial jobless claims