Initial Jobless Claims Remain low.

Initial Jobless Claims (week ended 7/16/2016)

– New Claims seasonally adjusted 253,000. Previous was 254,000
– New Claims unadjusted, totaled 269,206 a decrease of 29,467 from previous
– 4-week Moving Average seasonally adjusted 257,750. Previous was 259,000

Initial Jobless Claims have very low for months.

 
Philadelphia Federal Reserve Business Outlook Survey (July 2016)

– General Business Conditions Index -2.9. Previous was 4.7.

 
Chicago Federal Reserve National Activity Index (June 2016)

– Level +0.16. Previous was -0.56
– 3 Month Moving Average -0.16. Previous was -0.38

This is a weighted average of 85 existing monthly indicators of national economic activity.

 

 

FHFA House Price Index (May 2016)

– month/month +0.2%. Previous was +0.2%
– year/year +5.6%. Previous was +5.9%.

I continue to be one of the minority of commentators who sees slower increases in home prices as a big positive. One word: affordability.

This is a index which tracks the prices of homes purchased with loans sold to FNMA or FHLMC. It does not include those purchased with Jumbo mortgages or those sold for cash.

 

Existing Home Sales (June 2016)

– Existing Home Sales seasonally adjusted, annualized 5,570,000. Previous was 5,510,000
– Existing Home Sales month/month change +1.%. Year/year change +3.0%

 

Leading Indicators (June 2016)

– Leading Indicators month/month +0.3%. Previous was -0.2%.

This is a weighted composite of 10 economic indicators which should forecast the health of the economy in the next 3-6 months.