July Retail Sales met expectations

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Audio transcription:

July retail sales were as expected with a month over month increase of 0.5% after increasing 0.9% in June, ex-vehicles were up 0.3% from a previous reading of plus 0.5%.

July import prices month over month were thought to be up 0.1% but increased by 0.4%, year over year estimates were down 0.2% and met those expectations. It was the sharpest increase since April of last year, reflecting that foreign companies have not lowered their selling prices so far. Export prices in July were month over month up 0.1% as forecasted and down from 0.5% in June, year over year they were up 2.2% from an increase of 2.8% in June.

The Empire State manufacturing index for August was expected to increase 0.5, it actually increased 11.9.

At 9:15 am ET July industrial production and capacity utilization; month over month production estimates were up 0.0% from an increase of 0.3% in June, reported with an increase of 0.1%. Capacity utilization was estimated at 77.6% from a revised 77.7% and fell to 77.5%.

At 10 am the mid-month University of Michigan consumer sentiment index was thought to be at 62.1 from 61.7 in July, it plummeted to 58.6. Current condition at 60.9 down from 68.0 in July, consumer expectations at 57.2 from 57.7.

Yesterday the 10 year note once again found strong resistance at 4.20%, then increased to end the day to 4.29%.

Source: TBWS


All information furnished has been forwarded to you and is provided by thetbwsgroup only for informational purposes. Forecasting shall be considered as events which may be expected but not guaranteed. Neither the forwarding party and/or company nor thetbwsgroup assume any responsibility to any person who relies on information or forecasting contained in this report and disclaims all liability in respect to decisions or actions, or lack thereof based on any or all of the contents of this report.

Southern Oaks Mortgage, Inc. is a licensed Broker/Lender with the CA DRE Lic. #01458657, NMLS #237717

Jeffrey Eisenberg

President/Broker

NMLS: 236681

Southern Oaks Mortgage, Inc.

25060 Avenue Stanford, STE 255, Valencia CA

Company NMLS: 237717

Office: 661-964-2600

Cell: 661-904-5989

Email: jeff@somloans.com

Web: http://www.somloans.com

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Jeffrey Eisenberg

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President/Broker

NMLS: 236681

Cell: 661-904-5989


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