8/15: MetroIntelligence Economic Update by P. DUFFY

Consumer Price Index rose 0.3 percent in July, up 1.8 percent year-on-year

The Consumer Price Index rose 0.3 percent in July (up from 0.1 percent in June), and was up 1.8 percent year-on-year. The index for all items less food and energy rose 0.3 in July (the same increase as in June), and was up 2.2 percent over the last 12 months.

https://www.bls.gov/news.release/cpi.nr0.htm

 

July Small Business Optimism Index rose 1.4 points to 104.7

The NFIB Small Business Optimism Index rose 1.4 points to 104.7 in July, with seven of 10 components advancing, two falling, and one remaining unchanged. The Uncertainty Index fell 10 points, reversing a surge in June that reached the highest level since March 2017.

https://www.nfib.com/surveys/small-business-economic-trends/

 

Mortgage applications rise 21.7 percent as rates drop to lowest level since November 2016

The Market Composite Index increased 21.7 percent on a seasonally adjusted basis from one week earlier, with purchase loans rising 2.0 percent (up 12.0 percent year-on-year) and refinance activity increasing 37 percent (up 196 percent year-on-year, to its highest level since July 2016). The average contract interest rate for 30-year fixed-rate mortgages decreased 8 basis points to its lowest level since November 2016, 3.93 percent.

https://www.mba.org/2019-press-releases/august/mortgage-applications-increase-in-latest-mba-weekly-survey-x257611

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