Personal consumption expenditures (PCE) increased $57.6 billion, or 0.3%.
News in end use
University of Michigan Reports the Final Results of Its Consumer Sentiment Index for July
The University of Michigan Index of Consumer Sentiment declined to a reading of 66.4 in July, down from 68.2 in June. This is a month-over-month decline of 2.6%.
US Real GDP Increases at an Annual Rate of 2.8% in Q2, BEA Says in “Advance” Estimate
Real GDP increased at an annual rate of 2.8% in Q2, following an increase of 1.4% in Q1.
Delinquency Rates for Mortgages Backed by Commercial Property Decline Slightly in Q2
MBA released the results of its latest commercial real estate finance (CREF) Loan Performance Survey.
US Fixed-Rate Mortgages Little Changed in the Week Ending July 25th
The 30-year fixed-rate mortgage averaged 6.78%, up from last week when it averaged 6.77%, Freddie Mac reported.
US Weekly Initial Jobless Claims Decline in the Week Ending July 20th
The advance figure for seasonally adjusted initial unemployment claims was 235,000, a decrease of 10,000 from the previous week.
Canadian Employment Up for Fifth Consecutive Month in May
The number of Canadian employees receiving pay and benefits from their employer increased by 41,000, or 0.2%, in May. This was the fifth consecutive monthly increase.
New US Residential Single-Family Home Sales Decline in June
New residential single-family home sales were at a SAAR of 617,000, 0.6% below the revised May rate and 7.4% below the June 2023 rate.
Freddie Mac Releases Midyear Outlook for Multifamily Housing
Freddie Mac expects multifamily performance to remain muted for the remainder of the year as the market works through a historically high supply of new units.
Bank of Canada Cuts Key Interest Rate by Quarter Point to 4.5%
The Bank of Canada cut its key interest rate for a second consecutive time but warned the path back to 2% inflation may be uneven and would ultimately determine the pace of future cuts, The Canadian Press reported.