The Pulse.

U.S. Housing Market

• Newly Built Home Sales: Sales of newly built homes fell by 0.6% between May and June to an annual rate of 617,000. This is a 7.4% decline from the same month last year, falling short of the expected annual rate of 640,000. The inventory of homes for sale increased to 476,000, the highest since February 2008​ (Investopedia)​.

Manufacturing and Services Sectors

• PMI Reports: The services sector saw a significant increase in activity in July, reaching a 28-month high with a PMI of 56. This growth was stronger than expected and contrasted with a decline in the manufacturing sector, which hit a six-month low. This indicates robust economic growth in services while manufacturing is experiencing a contraction​ (Investopedia)​.

Trade and Inventories

• Trade Deficit: The U.S. trade deficit narrowed by 2.5% in June, with imports exceeding exports by $96.8 billion. Retail inventories rose by 0.7%, led by a 1.8% increase in motor vehicle and parts dealerships, while wholesale inventories increased by 0.2%​ (Investopedia)​.

Mortgage Market

• Mortgage Applications: Mortgage demand declined by 2.2% for the week ending July 19, despite lower mortgage rates. The 30-year fixed mortgage rate dropped to 6.82%, its lowest level since February, which maintained high refinancing activity​ (Investopedia)​.

Economic Indicators

• Consumer Price Index (CPI): In June, the CPI fell by 0.1% but increased by 3.0% over the past year. The index for all items less food and energy rose by 0.1% in June, showing a 3.3% increase over the year​ (Bureau of Labor Statistics)​.
• Employment Situation: Total nonfarm payroll employment increased by 206,000 in June, with significant gains in government, health care, social assistance, and construction sectors. The unemployment rate remained steady at 4.1%​ (Bureau of Labor Statistics)​.

International Investments

• Foreign Direct Investment: The U.S. saw an increase of $364.0 billion in direct investment abroad, totaling $6.68 trillion at the end of 2023. In contrast, foreign direct investment in the U.S. rose by $227.0 billion to $5.39 trillion, primarily from Canada and Europe​ (BEA)​.

These updates reflect the mixed but generally positive economic trends in various sectors. For more detailed information, you can visit the Bureau of Economic Analysis, Investopedia, and other reliable economic news sources.

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