GDP: + 1.9% in Q1 compared to last year; + 0.7% (revised up from 0.6%) over Q4
Consumer Prices: + 2.7% in May over last year
Consumer Confidence Index: fell to103.9 in June from 108.5 in May
Industrial Production: + 1.6% in May over last year. Factory orders decreased in May for the first time in four months. However, the decline of 0.5% was significantly less than the expected 1.2% drop, but the closely followed index of the Institute for Supply Management rose to 56.0 in June from 55.0 in May.
Unemployment: 4.5% in June
Trade Balance: - $829.9 billion for the past twelve months leading to April
Automotive Industry: 996,967 units were built in June, a drop of 6.6% from last year. Especially hard hit was the production of medium and heavy trucks, which declined 36.5% compared to last year. Year-to-date until the end of June, 5,712,844 units were produced, or 6.7% less than last year. Sales did not fare much better in June. Sales for the Big Three declined (GM - 21%, Ford - 8.1% and Chrysler -1.4%) compared to last year, whereas sales for Toyota (+ 10.0%) and Honda (+ 12.0%) went up in June.
Steel Production: 8.35 million mt were produced in May, or 6.2% below last year's number. Year-to-date through the end of May, 40.067 million mt were produced, or 4.8% off last year's pace.
Housing: Gruesome data keep on piling up. Existing home sales in May skidded another 0.3% to the lowest level in almost four years. The median price for an existing home fell another 2.1% to $223,700. Sales of new single family homes dropped 1.6% in May compared to April. The Standard & Poor Case Shiller Index on housing prices in 10 major metropolitan areas fell 2.7% in annual terms. Housing starts in May were 2.1% below April and 24.2% below May 2006. Permits declined 3.0% compared to April and 21.7% compared to May 2006.