A weekly update from NAR about projections with the economy.

1. Economic Indicators Week of July 12 – July 16, 2010 National Association of Realtors® Research Produced by NAR Research

2. Weekly Economic Forecast NAR's monthly official forecast as of July 1st Produced by NAR Research

4. However, the strong performance of the export market is good news from today’s data. Capital goods, consumer goods, industrial supplies, and automotive vehicles saw increases in exports. This data shows strengthening in the manufacturing sector.

5. Overall, imports were up 2.9 percent and exports were up 2.4 percent.Produced by NAR Research

7. Thirty-year mortgage rates skirted higher to 4.69 percent, but are still near the historical lows.

8. Overall retail sales in June contracted 0.5 percent, after shrinking 1.1 percent in May. The decline was largely driven by falling auto sales, followed by falling gasoline prices. Produced by NAR Research

10. The employment sector is pointed in the right direction, but is crawling towards its objective. A significant improvement in job creation is needed to whittle away the large reserve of unemployed and underemployed.

11. Employment issues will continue to weigh on buyer confidence and demand for home purchases.Produced by NAR Research

13. Lower cost of production will help producers to boost their margin, which in turn will help employment in the long-term. Lower costs also allow businesses to borrow more easily, reducing borrowing costs and pressure on mortgage rates.Produced by NAR Research

15. The softening of industrial production was no surprise. The question is whether it will rejuvenate in the coming months. Businesses need labor to produce goods and services and the economy is in desperate need of jobs.

16. The increase in production for businesses is an indication that producers feel that businesses are ready to spend, which in turn suggests that business are eyeing greater consumer demand and may ratchet up plans for hiring in the future.Produced by NAR Research

18. However, the consumer sentiment report from the University of Michigan suggests that despite the lower gas prices, consumer attitudes toward the current economic environment and the economic outlook have deteriorated somewhat. The overall index in July feel to the lowest level since August, nearly 1 year ago.Produced by NAR Research