8/17: METROINTELLIGENCE ECONOMIC UPDATE P.DUFFY

July housing starts down 4.8 percent from June and 5.6 percent year-on-year

Privately-owned housing starts in July were at a seasonally adjusted annual rate of 1,155,000. This is 4.8 percent below the revised June estimate of 1,213,000 and is 5.6 percent below the July 2016 rate of 1,223,000.

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July building permits dipped 4.1 percent from June but still up 4.1 percent year-on-year

Privately-owned housing units authorized by building permits in July were at a seasonally adjusted annual rate of 1,223,000. This is 4.1 percent below the revised June rate of 1,275,000, but is 4.1 percent above the July 2016 rate of 1,175,000.

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Builder confidence rebounds 4 points to 68 in August

Builder confidence in the market for newly built single-family homes rose four points in August to 68 on the NAHB/Wells Fargo Housing Market Index (HMI). All three HMI components posted gains in August.

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July retail sales post largest increase in seven months

U.S. retail sales recorded their biggest increase in seven months in July – rising by 0.65 percent — as consumers boosted purchases of motor vehicles as well as discretionary spending. The data suggested the economy continued to gain momentum early in the third quarter.

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CoreLogic: Delinquent mortgages fell to 4.5 percent in May

Nationally,  4.5 percent of mortgages were in some stage of delinquency (30 days or more past due including those in foreclosure) in May 2017. This represents a 0.8 percentage point decline in the overall delinquency rate compared with May 2016 when it was 5.3 percent.

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June business inventories rose by largest amount in seven months

U.S. businesses increased their stockpiles in June by the largest amount in seven months – rising by 0.5 percent — while sales also rose by 0.3 percent.  It was the best showing since inventories had risen 0.9% in November.

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