The Producer Price Index increased by 0.2% in July to 179.7 (1982=100), matching expectations, following a 0.5% decrease in June and a 0.3% decrease in May. Over the year, the index has advanced 4.2%, the ninth consecutive12-month increase. The index for energy goods decreased by 0.9% in July whereas prices for consumer foods increased by 0.7%, following three consecutive declines. Excluding food and energy prices, Core PPI increased 0.3%, the largest increase since a 0.3% rise in January, after increasing by 0.1% in June.
Housing Starts in July increased by 1.7% to an annual pace of 546,000 lower than the expected level of 560,000, from the revised figure of 537,000 in June (originally reported at 549,000). Over the year the figure has decreased by 7.0% from the July 2009 rate of 587,000. Building Permits decreased by 3.1% over the month to 565,000, lower than the expected level of 585,000, following 583,000 permits annualized in June (originally reported at 586,000). Over the year, Building Permits decreased by 3.7% from the 587,000 pace in July 2009.
Industrial Production increased by 1.0% in July to an index value of 93.4 (2007=100), higher than the expected increase of 0.6%, following a 0.1% decrease in June, revised from a 0.1% increase. Over the year, the industrial production index is up by 7.7%. Capacity Utilization increased to 74.8% for July from 74.1% in June and was 5.8 percentage points below its average for the period from 1972 through 2009. In July 2009, Capacity Utilization was measured at 69.1%.
Upcoming Releases
Crude Inventories (08/17 at 10:30 AM EST)
Initial Claims (08/18 at 8:30 AM EST)
Leading Indicators (08/18 at 10:00 AM EST)
Existing Home Sales (08/18 at 10:00 AM EST)
Initial Claims (08/18 at 8:30 AM EST)
Leading Indicators (08/18 at 10:00 AM EST)
Existing Home Sales (08/18 at 10:00 AM EST)
