Archive: August, 2013
KEY DATA: GDP: 2.5% (up from 1.7%)/Claims: 331,000 (down 6,000)
IN A NUTSHELL: "Improving exports shows how being a seller to the world rather than just a buyer can really help the economy."
KEY DATA: Confidence: 81.5 (up 0.5 point) /Case-Shiller: up 0.9%; Year-over-Year: +12.1%
IN A NUTSHELL: "Confidence is not rising very rapidly even with home prices still rising sharply."
INDICATOR: July Durable Goods Orders
KEY DATA: Orders: -7.3%; Excluding Aircraft: -1.5%; Computers: -19.9%; Capital Expenditures: -3.3%; Backlogs: +0.4%
IN A NUTSHELL: "With the demand for big-ticket items faltering big-time, the prospects for solid growth this quarter grow dimmer."
KEY DATA: Leading Indicators: +0.6%/Jobless Claims: 336,000 (up 13,000)
IN A NUTSHELL: "The economy seems to be picking up some steam as the labor market continues to improve."
INDICATOR: July Existing Home Sales
KEY DATA: Sales: (Monthly) up 6.5%; Year-over-Year: up 17.2%; Median Prices (Year-over-Year): up 13.7%
IN A NUTSHELL: "Housing activity remains solid but whether that is due to underlying strength or fears of higher mortgage rates is still quite unclear."
INDICATOR: July Consumer Price Index/Weekly Jobless Claims
KEY DATA: CPI: +0.2%; Excluding Food and Energy: +0.2%/Claims: 320,000
IN A NUTSHELL: "Inflation remains tame but it really looks like the labor market is starting to heat up."
INDICATOR: July Retail Sales/Import Prices
KEY DATA: Retail Sales: +0.2%; Excluding Vehicles: +0.5%/Imports: +0.2%; Non-Fuel: -0.4%
IN A NUTSHELL: "Consumers are still spending but not with a whole lot of conviction."
INDICATOR: June Trade Deficit/CoreLogic Home Prices
KEY DATA: Deficit: $34.2 billion ($9.9 billion narrower)/CoreLogic Prices: +1.9%
IN A NUTSHELL: "The sharply narrower trade deficit likely means spring growth was stronger than initially estimated."