Existing home sales increased 3.2 percent to a seasonally adjusted rate of 5.49 million in June, according to the National Association of Realtors, up from a downwardly revised 5.32 million in May. Existing home sales have increased year over year for the last nine months. Median existing home prices increased 6.5 percent year over year
Housing starts in June were at a seasonally adjusted annual rate of 1.174 million, 9.8 percent above the revised May estimate of 1.069 million and 26.6 percent higher than 927,000 in June 2014. The figure for single family housing was 687,000, 0.9 percent below the revised May estimate. The housing activity was mixed across regions,
The Consumer Price Index increased 0.3 percent in June. The rise was broad-based, with increases in gasoline, shelter and food prices. The index rose 0.1 percent over the last 12 months. The energy index gained 1.7 percent in June, following a 4.3 percent increase in May. Gasoline prices rose 3.4 percent and natural gas gained
The National Association of Home Builders/Wells Fargo Housing Market Index (HMI) reached a level of 60 in July, the highest reading since November 2005. Two of the three index components posted gains for the month. Current sales conditions rose 1 point to 66, expectations for sales in the next six months rose 2 points to
Economic activity expanded across all twelve Federal Reserve Districts from mid- May through June according to the July 2015 edition of the Federal Reserve Beige Book. Activity across most districts grew at a modest to moderate pace, while growth in Cleveland and Boston held steady. Banking conditions were positive across most Districts, as overall demand
Industrial production increased 0.3 percent in June, the first gain in seven months. Over the past year, industrial production is up 1.5 percent. Manufacturing output was unchanged from May. Mining output increased 1.0 percent, an improvement after declining more than 1 percent per month on average over the previous five months. Output of utilities rose
Producer prices climbed 0.4 percent in June, seasonally adjusted, according to the U.S. Bureau of Labor Statistics, principally reflecting a 0.7 percent hike in prices for final demand goods. This was the third monthly increase in the past six months, yet producer prices fell 0.7 percent on a yearly basis. Sixty percent of the broad-based
Individuals who have applied for credit are reporting higher approval rates, according to the Federal Reserve Bank of New York’s latest Credit Access Survey released today, which gauges consumers’ experiences and expectations regarding credit over the previous year. The results show that the share of applicants who received credit in the past 12 months rose
The NFIB Small Business Optimism Index decreased 4.2 points in June. Nine of the ten components posted declines over the last month, while the expected credit conditions component showed no change. The number of owners planning to increase employment fell 3 points from May to the lowest reading since September. Fifty-two percent of owners reported
Americans’ expectations for how much they will spend next year increased in June, rising from 4 percent to 4.3 percent, according to the Federal Reserve Bank of New York’s monthly Survey of Consumer Expectations.