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Friday, July 20, 2012

A Week of Mixed Economic Signals

Retail sales posted a sharp decline of 0.5 percent for June, signaling a slower pace of consumer spending to end the second quarter.

Industrial production rose modestly in June, as automakers and machinery producers helped to support manufacturing output.

Housing market data came in mixed for June, with housing starts climbing a robust 6.9 percent while existing home sales fell 5.4 percent. The disappointing pace of existing home sales is reflective of the slow pace of the housing recovery.

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