Overview:   Housing starts increase 1.7% in July as building permits fell 3.1%.  The topline PPI rose 0.2%; the core PPI rose 0.3%.  Industrial production was up 1.0% in July.  Initial jobless claims rose by 12,000 to a level of 500,000 for the week ended 8/14.

Housing starts increased 1.7% to an annual pace of 546,000 units in July.

Building permits fell 3.1% to an annual pace of 565,000 units in July.

The topline producer price index rose 0.2%; the core PPI rose 0.3%.

Industrial production increased by a greater-than-expected 1.0% in July. Auto plants not shutting down for their usual annual retooling contributed to the increase. June’s previously reported increase of 0.1% was revised downwards to a decrease of 0.1%, marking the first decline in production since June, 2009.

Initial jobless claims rose by 12,000 to 500,000 for the week ended August 14^th. This marks the highest level of initial claims since November, 2009.