Economic indicators

The federal government ran a $42.9 billion deficit in July, the Treasury Department reported Thursday.

Initial claims for U.S. state unemployment benefits rose by 3,000 to 244,000 in the August 5 week, compared with expectations for a 240,000 level. There was a small upward revision to the claims level in the previous week.

Final demand PPI fell 0.1% in July, both including and excluding food and energy prices, compared with expectations for 0.2% gains for both, data released Thursday by the Bureau of Labor Statistics showed.

Labor market “activity increased and momentum remained high in July,” as the Federal Reserve Bank of Kansas City Labor Market Conditions Indicators (LMCI) grew to 0.51 in July from 0.36 in June, according to the Bank.

The value of wholesale inventories rose 0.7% in June, a small upward adjustment from the 0.6% gain estimated in the advance estimate, while wholesale sales rose 0.7%, their largest increase since February, data released Wednesday by the U.S. Commerce Department showed.

Second quarter nonfarm productivity rose 0.9% above the 0.8% gain expected, while unit labor costs were up only 0.6% rather than the 1.1% rise expected, data released by the Bureau of Labor Statistics Wednesday showed.

The number of open positions rose by 461,000, the most in almost two years, to 6.163 million (estimates were for 5.75 million) from an upwardly revised 5.702 million in May.

Small businesses were more optimistic, as hiring activity increased, according to the National Federation of Independent Business' monthly Small Business Optimism index.

Puerto Rico’s June economic activity declined 0.5% compared to May and 2.1% compared to a year earlier.

Consumer credit increased by $12.4 billion in June to $3.856 trillion, the Federal Reserve reported Monday.

The gain in ETI was driven by positive contributions from all eight components.

Newly issued Treasury securities held in stripped form increased about $1.494 billion in July to a total of $251.081 billion, the Bureau of the Public Debt reported Friday.

Inflationary pressures eased in July.

The U.S. international trade gap narrowed in June to $43.6 billion, smaller than the $44.1 billion gap expected.

The July employment report released Friday, which showed nonfarm payrolls rose by a stronger-than-expected 209,000 following a net 2,000 upward revision to May-June payrolls, will be viewed by many as a sign of strength.

The Treasury Department said Thursday it will auction $39 billion 91-day bills and $33 billion 182-day discount bills Monday.

The value of new factory orders rose by 3% in June, right on the target expectation by analysts from an MNI survey. Nondurable goods orders fell 0.3%, but durable goods orders were revised slightly down to a still strong 6.4% rise, data released by the Commerce Department Thursday morning showed.

Initial claims for U.S. state unemployment benefits fell by 5,000 to 240,000 in the July 29 week, exactly as expected, following a small upward revision to the claims level in the previous week, data released by the Labor Department Thursday showed.

The Treasury Department Tuesday auctioned $45 billion of four-week bills at a 0.990% high yield, a price of 99.923000.

Construction spending was down 1.3% in June, with a 0.1% decline in private construction and a steep 5.4% drop in public construction, data released by the Commerce Department Tuesday morning showed.