Your Economic Update For The Week of June 10, 2013.

In the News


Total construction spending rose 0.4% to $860.8 billion in April, following a 0.8% decrease in March. Compared to April 2012, construction spending has risen 4.3%.

Manufacturing activity fell to 49 in May after a reading of 50.7 in April. A reading below 50 signals contraction. This was the first contraction after five consecutive months of expansion.

Motor vehicle sales rose 2.7% in May to an annualized sales rate of 15.3 million cars and light trucks. Auto sales have steadily recovered since bottoming out in 2009 when Americans purchased 10 million cars.

The trade deficit increased from $37.1 billion in March to $40.3 billion in April. Exports rose $2.2 billion to $187.4 billion. Imports increased $5.4 billion to $227.7 billion.

The Mortgage Bankers Association said its seasonally adjusted composite index of mortgage applications for the week ending May 31 fell 11.5%. Purchase volume fell 2%. Refinancing applications decreased 15%.

Factory orders rose $4.9 billion, or 1%, in April to a seasonally adjusted $474 billion. This follows a 4.7% decrease in March. Excluding the volatile transportation sector, orders decreased 0.1% in April.

Non-manufacturing activity rose to 53.7 in May from 53.1 in April. A reading above 50 signals expansion. It was the 41st straight month of expansion in the services sector.

Initial claims for unemployment benefits for the week ending June 1 fell by 11,000 to 346,000. Continuing claims for the week ending May 25 fell by 52,000 to 2.952 million. The less volatile four-week average of claims for unemployment benefits was 352,500. The unemployment rate increased from 7.5% in April to 7.6% in May. Employers added 178,000 jobs in May.

Upcoming on the economic calendar are reports on wholesale trade on June 11 and retail sales on June 13.

Advertisements
This entry was posted in Banks, Boise, Boise Homes, Boise Real Estate, Business, Eagle, Economy, Fannie Mae, FHA, Finance, First Time Buyers, Fixed Rate Mortgage, Foreclosure, Foreclosure Crisis, Freddie Mac, Home, Homes in Boise, Homes in Idaho, Housing, Housing Recovery, HUD, Idaho, Meridian, Money, mortgage, Mortgage, Mortgage Bankers, Mortgage Bankers Association, National Association of Realtors, News, Real Estate, Real Estate Professional, Realtors, Refinance, U.S. Home, U.S. House, U.S. Housing, Uncategorized. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s