USA Economic Update




















Week of June 21 - 27

Week of June 28 - July 4


Source:

MarketWatch, U.S. Economic Calendar, https://www.marketwatch.com/economy-politics/calendar.

Investing.com, Economic Calendar, https://www.investing.com/economic-calendar/.


Historical Data

1. Redbook Retail Sales YoY Change

Source:

(1) Redbook Research inc., Johnson Redbook Index, http://www.redbookresearch.com/.


2. Crude Oil Inventories

Source:

(2) U.S. Energy Information Administration, Weekly Petroleum Status Report, https://www.eia.gov/petroleum/supply/weekly/.


3. Initial Jobless Claims

New applications for traditional jobless benefits fell slightly last week to 1.48 million, but they remain high three months after the start of the corona virus pandemic and and signal that a fledging economic recovery is likely to be uneven.


Source:

(3,4) U.S. Department of Labor, Unemployment Insurance Weekly Claims. https://www.dol.gov/ui/data.pdf.


4. Continuing Jobless Claims

Source:

(3,4) U.S. Department of Labor, Unemployment Insurance Weekly Claims. https://www.dol.gov/ui/data.pdf.


5. New Home Sales

Compared with the previous year, new home sales were up 12.7% in May. The Northeast experienced the most pronounced increase in sales, with a 45.5% jump, followed by the West (up 29%) and the South (up 15.2%). Sales fell by 6.4% in the Midwest. The median sales price for new homes sold in May was $317,900. At the end of the month, there were 318,000 new homes estimated to be up for sale, which equates to a 5.6-month supply. A 6-month supply of homes is generally considered to be indicative of a balanced market.


Source:

(5) University of Michigan, June 2020 Surveys of Consumers, http://www.sca.isr.umich.edu.


6. Michigan Consumer Sentiment

Source:

(6,7) Bureau of Economic Analysis, May 2020 Personal Income and Outlays, https://www.bea.gov/news/2020/personal-income-and-outlays-may-2020.


7. Personal Spending MoM


Source:

(6,7) Bureau of Economic Analysis, May 2020 Personal Income and Outlays, https://www.bea.gov/news/2020/personal-income-and-outlays-may-2020.

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