Search
integrated planning for life
 
integrated interior banner

08/06/2015
Market Update

Contact Our Team

The U.S. economy expanded in the second-quarter amid a slowing housing market in June. Overseas, U.K. economic growth also continued in the second quarter, while eurozone consumer prices and unemployment remained unchanged in July.
This Week
  • The U.S. economy expanded in the second-quarter amid a slowing housing market in June. Overseas, U.K. economic growth also continued in the second quarter, while eurozone consumer prices and unemployment remained unchanged in July.
  • Durable goods orders rebounded in June, outpacing estimates. Orders for core goods (excluding aircraft) climbed, attributable to demand for motor vehicles, computers and electronics and machinery and construction-related electrical equipment. Unfilled orders ticked upward, while inventories increased.
  • Service sector activity exceeded estimates in July, according to advance data. New orders reached a three-month peak while backlog orders and hiring advanced. However, optimism was at a three-year low and output prices were flat.
  • U.S. jobless claims climbed by 12,000 to 267,000 for the week ending July 25. The four-week moving average (which evens out volatility) declined, while continuing claims (reflecting delayed data) rose by 46,000 to 2.62 million for the week ending July 18.
  • The U.S. economy expanded by 2.3% in the second quarter, below projections yet greater than the first quarter’s revised 0.6% rate (up from -0.2%). Residential investment and auto spending contributed most, while defense and federal spending detracted. Notably, core prices rose 1.8%.
  • Employment costs rose a disappointing 0.2% during the second quarter, marking the lowest advance in the report’s three-decade existence. Year-over-year growth in costs settled down to 2.0%, a near-record low.
  • Pending home sales unexpectedly decelerated in June. Slowing was seen in the South and West, while the Northeast progressed. Year-over-year sales were positive, yet receded from May’s double-digit growth.
  • U.S. home prices decreased in May, falling below April’s downward–revised zero-growth estimate, according to CaseShiller’s seasonally-adjusted findings. Over half of the 20 surveyed cities reported price declines.
  • The U.K. economy expanded by 0.7% in the second quarter, exceeding first-quarter growth. A surge in the mining and quarrying sector boosted industrial production, while hotels and catering contributed to service growth. Year-over-year growth of 2.6% fell short of the first quarter rate.
  • Eurozone consumer price growth remained unchanged in July, according to advance data, repeating June’s 0.2% advance. The region’s unemployment rate for June of 11.1% also remained unchanged from the prior two months.
  • Excluding volatile items (food and energy), Japanese consumer prices reflected zero growth in June and rose by 0.6% in the year over year. However, consumer spending unexpectedly dropped into negative territory during the year over year, with clothing and footwear expenditures detracting most.

 

RubinBrown Wealth Advisors help clients identify, prioritize and achieve their financial goals and objectives utilizing an experienced group of professionals that can integrate income taxes, estate taxes, financial planning, risk management and investment management needs, all in one place, throughout their lifetimes.

RubinBrown Advisors may only transact business in any state if we are first registered, excluded or exempted from the applicable registration requirements. Follow-up, individual responses or rendering of personalized investment advice for compensation will not be made absent compliance with applicable state registration requirements or an applicable exemption or exclusion.

All Market Updates