U.S. Economic News
July 16, 2020
U.S. Economic Indicators
Initial jobless claims fell 10,000 to 1,300,000 last week. The four-week moving average fell 60,000 to 1,375,000. DOL Report
Retail sales rose 7.5% in June and were up 1.1% from a year ago. Core sales – which exclude autos, gasoline, building materials, and food services – increased 5.6%. Census Bureau Report
Business inventories fell 2.3% in May and were down 4.8% from May of last year. Manufacturers’ sales increased 3.1% in May but were down 19.5% compared to a year ago. Census Bureau Report
The NAHB Housing Market Index rose 14 points to 72 in July, back to its pre-pandemic reading from March. NAHB reports that the housing market may lead the economic recovery as builders are seeing increased demand due to the small existing home inventory. NAHB Report