Friday, July 16, 2010

A quick summary of the week

by Bill McBride on 7/16/2010 11:59:00 PM

  • NFIB Survey showed small businesses were more pessimistic in June

  • Ceridian Diesel Fuel index showed a sharp decline in June

  • The Census Bureau reported the trade deficit increased in May.

  • The BLS reported low labor turnover in May.

  • The Association of American Railroads reported softer rail traffic in June.

  • The MBA reported the mortgage purchase index was at the lowest level since December 1996.

  • The Census Bureau reported retail sales fell 0.5% in June.

  • The minutes of the FOMC meeting showed the Fed revised down their forecast for GDP growth, and revised up their forecast for unemployment.

  • The Empire State Manufacturing Survey showed the pace of growth "slowed substantially" in July.

  • The Fed reported that Industrial production and Capacity Utilization were mostly flat in June.

  • The Philly Fed index showed slowing growth in July.

  • The Consumer Price Index declined 0.1% in June.

  • The Reuters / University of Michigan's Consumer Sentiment index declined sharply in July.

    I'll have the weekly summary on Sunday, but the news flow was definitely downbeat.