U.S. Economic Indicators

The U.S. Census Bureau Advance Economic Indicators Report shows that the goods deficit fell to $70.6 billion in June from $75.3 billion in May. Meanwhile, wholesale inventories fell 2.0% and retail inventories fell 2.6%. Census Bureau Report

The National Association of Realtors Pending Home Sales Index rose 16.6% in June (up 6.3% year-over-year). NAR reports that it has revised its forecast for the housing market upward as a result of the positive contract activity and notes that buyers are taking advantage of record-low mortgage rates. NAR Report

U.S. News

The Wall Street Journal reports that there is mixed evidence as to whether enhanced unemployment benefits deter people from returning to work – a key issue in Congress’ debate over the extension of the additional $600-per-week relief measure. A recent study published by Yale economists finds that more-generous benefits did not lead to larger employment declines, while survey data from the Bipartisan Policy Center revealed that some workers reported not looking for work because their unemployment benefits exceed their previous paycheck. WSJ