
Core Report | September 12, 2025
A key measure of non-residential building project planning increased sharply again in August after a very sharp increase in July. The August Dodge Momentum Index came in at 301.4, up 7.5% from 279.9 in July.
A key measure of non-residential building project planning increased sharply again in August after a very sharp increase in July. The August Dodge Momentum Index came in at 301.4, up 7.5% from 279.9 in July.
Q2 growth in the U.S. economy accelerated at a faster rate than initially calculated. The second estimate of Q2 GRP showed an annual increased of 3.3%, up from the initial calculation of 3.0% growth.
Q2 growth in the U.S. economy accelerated at a faster rate than initially calculated. The second estimate of Q2 GRP showed an annual increased of 3.3%, up from the initial calculation of 3.0% growth.
Now down for the second time in the last three months, July new home sales came in at a 652,000 unit rate, down 0.6% from June and down 8.2% from the 710,000 unit rate last July.
New housing starts increased sharply in July on the back of stronger apartment complex starts. New housing starts came in at a 1.428 million unit rate, up 5.2% from June and up 12.9% from the 1.265 million unit rate last July.
On the back of stronger apartment complex starts, new housing starts came in at a 1.428 million unit rate, up 5.2% from June and up 12.9% from the 1.265 million unit rate last July. The jump in July starts comes on the back of upwardly revised readings in both May and June.
Business activity from the manufacturing sector in the New York region grew a faster rate than in July. August marked the second consecutive monthly increase in activity, the first occurrence since November/December. The two-month average increased to 8.7, the highest level since December.
Prices paid by consumers increased again in July, climbing 0.15% on an adjusted basis from June. Despite the increase, this was the smallest month-over-month growth since December. It’s the third consecutive month in which prices increased on a year-over-year basis, however, climbing 2.7% compared to last July. Excluding the volatile food and energy sectors, prices increased 0.19% from June and were up 3.06% from last July. The CORE-CPI saw prices increase the most for the shelter index, medical care, vehicle insurance, and household furniture. Prices for apparel, appliances, and nonprescription drugs, were down compared to last July.
After sliding the previous three months, July light vehicle sales came in at a 16.87 million unit rate, up 7.6% from June and up 6.0% from the 15.83 million unit rate last July.
New home sales increased slightly in June although at a slower rate than expected. June new home sales came in at a 627,000 unit annual rate, up 0.6% from May but down 6.6% from the 671,000 unit rate in June 2024.