THE BASIS POINT

Housing Starts down. Jobless Claims Remain Low.

 

Housing Starts  (June 2014)

– Starts (seasonally adjusted, annualized) 893,000. Previous revised down to 985,000

– Permits (seasonally adjusted, annualized) 963,000. Previous revised up to 1,038,000.

This is disappointing data.

 

Jobless Claims  (week ended 7/12/2014)

– Initial Claims (seasonally adjusted) 302,000. Previous was 305,000 – Initial Claims (unadjusted)  totaled 369,591an increase of 47,079 from the previous week – 4-week moving average 309,000

Jobless Claims remain low.

Philadelphia Fed Survey (July 2014)

– General Business Conditions Index 23.9.  Previous was 17.8.

This is a survey report intended to measure general business conditions in the area served by the Philadelphia Federal Reserve.

 

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