Gary Siegel

Manufacturing activity in the Federal Reserve Bank of Kansas City's region "declined modestly" in July, according to the bank's monthly manufacturing survey, released Thursday.

The federal funds rate target was left unchanged at 0.25% to 0.50% by the Federal Open Market Committee, according to its statement released Wednesday, which hinted at coming rate hikes by saying risks to the short-term outlook have "diminished."

Pending home sales increased 0.2% to an index reading of 111.0 in June, after an unrevised 110.8 reading in May, according to a report released Wednesday by the National Association of Realtors.

Texas service sector activity "continued to reflect expansion in July," according to business executives responding to the Federal Reserve Bank of Dallas' Texas Service Sector Outlook Survey, as the revenue index fell to 10.3 from 15.6.

Service sector activity "increased moderately in July," according to the Federal Reserve Bank of Richmond service-sector activity survey, released Tuesday.

Manufacturing activity in the central Atlantic region "improved in July," according to the monthly business activity survey conducted by the Federal Reserve Bank of Richmond, although the manufacturing index reversed to positive 10 in July from negative 10 in June.

The consumer confidence index decreased to 97.3 in July from a revised 97.4 last month, The Conference Board reported Tuesday.

The region's non-manufacturing sector surged in July, as the general business conditions index gained to 28.8 from 10.8 in June, this month's Federal Reserve Bank of Philadelphia Report on Business, released Tuesday, indicates.

Texas factory activity, as measured by the production index, "held steady in July," according to the monthly Texas Manufacturing Outlook Survey conducted by the Federal Reserve Bank of Dallas, released Monday.

The composite index of Leading Economic Indicators was up 0.3% in June following an unrevised 0.2% drop in May, the Conference Board reported Thursday.

Existing home sales grew 1.1% to a seasonally adjusted 5. 75 million-unit rate in June from a downwardly revised 5.51 million sales pace the previous month, the National Association of Realtors announced Thursday.

The Chicago Fed National Activity Index for June climbed to positive 0.16 from negative 0.56 in May, while the three-month moving average (CFNAI-MA3) narrowed to negative 0.12 from negative 0.39 in May, the Federal Reserve Bank of Chicago reported Thursday.

The region's manufacturing sector contracted in July, as the general business conditions index slipped to negative 2.9 from positive 4.7 in June, this month's Federal Reserve Bank of Philadelphia Report on Business indicates.

Builders' confidence in the market for new single-family homes was down marginally as the National Association of Home Builders' housing market index slid to 59 in July from 60 in June.

The New York region's service sector activity "expanded modestly," according to the Federal Reserve Bank of New York's July Business Leaders Survey, released Monday.

The University of Michigan's preliminary July consumer sentiment index reading was 89.5, compared to the final June 93.5, according to market sources.

Industrial production surged 0.6% in June, the Federal Reserve reported Friday.

The Empire State Manufacturing Survey showed "business activity flattened out for New York manufacturers," the Federal Reserve Bank of New York reported Friday, as the general business conditions index slipped to 0.55 in July from 6.01 in June.

The Federal Reserve must exercise patience while the Brexit fallout settles, Federal Reserve Bank of Atlanta President and Chief Executive Officer Dennis Lockhart said Thursday.

The federal government ran a $6.3 billion surplus in June, the Treasury Department reported Wednesday.