Positive news from the US: Retail sales are rising sharply

US retail sales rose significantly in July, government figures showed on Thursday. Sales rose 1.0 percent, a significant increase from June, when sales fell 0.2 percent after a revision. Earlier, a steady growth was reported in June. On an annual basis, retail sales rose 2.7 percent in July, significantly more than analysts had expected.

A decline in unemployment claims
At the same time, new claims for unemployment benefits in the U.S. fell more than expected, according to data from the U.S. Department of Labor. The number of new applications was 227,000, down 7,000 from the previous week. Expected 235,000 applications. The week-ago figure was revised to 234,000, up from the previously reported 233,000.

Decline in industrial production
In contrast, industrial production in the US fell more sharply than expected in July, the Federal Reserve said. Manufacturing fell 0.6 percent after rising 0.3 percent in June. Earlier, a 0.6 percent increase was reported in June. Economists had expected a decline of just 0.1 percent in July. Capacity utilization fell to 77.8 percent in July from 78.4 percent in June, while 78.5 percent utilization was expected. In June, capacity utilization was earlier pegged at 78.8 percent.

Confidence in home builders is waning
Confidence among U.S. homebuilders fell further in August. That’s clear from data from the National Association of Home Builders on Thursday. The NAHB housing index fell to 39 this month from 41 in July. The July figure was revised slightly downward from the previously reported figure of 42. The NAHB pointed to a lack of affordable housing and saw buyer reluctance due to high interest rates and high home prices. If the index is below 50, homebuilders rate sales conditions negatively.