July building rose 1.5 percent from June and 4.2 percent year-on-year
Privately-owned housing units authorized by building permits in July were at a seasonally adjusted annual rate of 1,311,000. This is 1.5 percent above the revised June rate of 1,292,000 and is 4.2 percent above the July 2017 rate of 1,258,000.
July housing starts rebounded 0.9 percent from June, but down 1.4 percent year-on-year
Privately-owned housing starts in July were at a seasonally adjusted annual rate of 1,168,000. This is 0.9 percent above the revised June estimate of 1,158,000, but is 1.4 percent below the July 2017 rate of 1,185,000.
June business inventories up 0.1 percent, sales rose 0.3 percent
Business inventories in the U.S. rose 0.1% in June, while sales increased a sharper 0.3% during the month. The ratio of inventories to sales dropped to 1.33 from 1.34. One year ago, the inventory-to-sales ratio was higher at 1.39.
July industrial production up 0.1 percent from June and 4.2 percent year-on-year
Industrial production edged up 0.1 percent in July after rising at an average pace of 0.5 percent over the previous five months. At 108.0 percent of its 2012 average, total industrial production was 4.2 percent higher in July than it was a year earlier.
Mortgage applications dip 2.0 percent, rates slip three basis points
The Market Composite Index decreased 2.0 percent on a seasonally adjusted basis from one week earlier, with purchase loans down 30 percent and refinance activity remaining flat. The average contract interest rate for 30-year fixed-rate mortgages decreased to 4.81 percent from 4.84 percent.
Initial unemployment claims dip by 2,000 in weekly report
In the week ending August 11, initial unemployment claims were 212,000, a decrease of 2,000 from the previous week’s revised level. The 4-week moving average was 215,500, an increase of 1,000 from the previous week’s revised average.