Monday Economic Updates

1.The Chicago Fed’s 85-variable “National Activity Index” improved in June, and provides no evidence of a U.S. recession, see chart above and read more here.

2. Comerica Bank's "Michigan Economic Activity Index" climbed in May to the highest level since early 2005, see chart above. Further, building permits issued in Michigan during the month of May were the highest since October 2007.  Read more here about Michigan's economic recovery.

3. Minneapolis-St. Paul is the latest metro area with a sizzling June real estate report: Home sales increased 13.8%, pending sales increased 16%, the median sales price increased by 10.7% to almost a four-year high of $179,500, average time on the market fell to a six-year low of 113 days, and the "percent of original list price received" increased to almost a five-year high of 96.1%.