Economics Group: Weekly Economic & Financial Commentary
Q2 Appears to Be Ending on a Stronger Note
· Retail sales rose a modest 0.2 percent in June, however, the details of the report were encouraging for consumer spending in the second quarter.
· June producer prices came in higher than expected, rising 0.4 percent. Import prices, however, showed some signs of easing up for the month.
· The most disappointing news of the week was June housing starts which fell 9.3 percent, marking the second month of sizable declines. The downshift in building activity was observed in both single and multifamily starts.
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