Overview:  Industrial production increased 0.9% in July.  Existing home sales fell 3.5% in July as housing starts declined 1.5% and building permits fell 3.2%.  The topline PPI rose 0.2% while the core PPI rose 0.4%.  The topline CPI increased 0.5% while the core CPI rose 0.2%.  Initial jobless claims rose 9,000 to a level of 408,000 for the week ended 8/13.

• Industrial production rose 0.9% in July.
• Existing home sales unexpectedly fell 3.5% to an annual pace of 4.67 million units in July.  The median home price of $174,000 was down 4.4% from a year ago.  July sales were up 21% from a year ago which marked the expiration of the homebuyer tax credit.
• Housing starts declined 1.5% to an annual pace of 604,000 units in July as building permits fell 3.2% to an annual pace of 597,000 units.
• The topline producer price index edged up by a greater-than-expected 0.2% in July. The core PPI rose 0.4%.
• The topline consumer price index also increased more than anticipated, with a 0.5% rise in July.  The core CPI increased 0.2%.
• Initial jobless claims rose 9,000 to 408,000 for the week ended August 13^th.