Succinct Summations for the week ending July 26th, 2019
Positives:
1. GDP rose 2.1% in Q2 exceeding the expected increase of 1.9%.
2. Jobless claims fell 10k w/o/w from 216k to 206k.
3. New home sales rose 42k m/o/m from 604k to 646k.
4. Wholesale inventories rose 0.2% m/o/m, meeting expectations.
5. New orders for durable goods rose 2.0% m/o/m, above the expected increase of 0.5%.
6. Same store sales rose 4.9% w/o/w, higher than the previous increase of 4.7%.
Negatives:
1. Home mortgage apps fell 2.0% w/o/w after previously falling 4.0% in the week prior.
2. International trade in goods deficit widened to $-74.2B, greater than expected $-72.5B
3. FHFA House Price Index rose 0.1% m/o/m, below the expected 0.3%.
4. Existing home sales came in at a 5.270M annual rate for June, below expected 5.320M.
5. Retail inventories fell 0.1% m/o/m after an expected increase of 0.5%.
6. PMI Composite FLASH came in at 50.0 for July, below the expected 51.0.
Thanks, Matt!
