National Economic News
The Federal Reserve Bank raised interest rates for the 9th time in a year on June 30. The Fed insisted that the economy is on steady ground, despite gyrating energy prices. (The Denver Post, July 1, 2005).
The dollar gained ground overseas, hitting its highest level against the euro in 13 months. (The Denver Post, July 5, 2005).
In May, U.S. factory orders had their largest increases in a year, indicating a manufacturing boost to the economy for the second half of the year. (The Denver Post, July 6, 2005).
Jobless claims for unemployment benefits rose the first week of July due to automotive factory furloughs. Other companies continued to add jobs, and there is no expected slowing of the national economy. (The Denver Post, July 8, 2005).
Nationwide, employers added 146,000 new jobs in June, pushing the unemployment rate to a 4 year low. (The Rocky Mountain News, July 9, 2005).
Stocks gained during July, due to good economic news derived from employment and manufacturing increases. (The Denver Post, July 10, 2005).
On July 20, the Federal Reserve Board delivered an upbeat economic report, announcing that the economy should continue to grow in the upcoming months with low inflation. (The Denver Post, July 21, 2005).
The U.S. index of leading economic indicators surged in June to its largest increase in 15 monhts, indicating that the economy is picking up steam. (The Denver Post, July 22, 2005).
July ended with more positive economic news. The Federal Reserve Board announced continued positive jobs growth and a handle on inflation, while new homes sales set a record. (The Denver Post, July 28, 2005).
Regional Economic News
Colorado ranks 47th in the nation in home appreciation. The lag is linked to lower new job creation as compared to other states. (The Denver Post, July 6, 2005).
The Colorado economy improved in 2004 from a point near the bottom as compared to the rest of the nation, to mid-way in the pack. (The Denver Post, July 12, 2005).
Colorado had a 2.3 percent increase in jobs for the first half of 2005, pushing the state to its highest employment level since 2001. (The Rocky Mountain News, July 23, 2005).
Home prices in Denver broke a month old record by 0.3 percent over last month and 3 percent over July of 2004. The median price for a single family home is now $252,250. The median price of a condo is $164,000. (The Denver Post, July 27, 2005).
The stock market had a strong month in July, with the Dow Jones Industrial Average gaining 3.56 percent for the month, its strongest July since 1997. (The Rocky Mountain News, July 30, 2005).
