Market Review, June 2013

Publication Date: 

August 2013

Summary: 

Economic reports released in June were somewhat better than expected, though GDP growth was a notable disappointment. On the positive side, the labor market showed modest improvement and retail sales, consumer confidence, and housing market data posted better than expected results. Industrial production data showed modest expansion after a surprising contraction in May. The final revision to first quarter GDP, however, was revised lower to 1.8% growth from 2.4%. Wall Street estimates for second quarter GDP remain in the 1.0% to 2.0% range.