Week 29 (July 14-July 20, 2025)

Last week’s economic data emphasized the continued resilience of the U.S. economy, though some softness is evident in certain segments.

The latest CPI and PPI reports indicated that core price increases remain subdued: the Consumer Price Index for all items less food and energy rose just 0.2% in June, and the Producer Price Index was unchanged for the month. Additionally, import prices fell in June, helping to ease tariff-related concerns and inflationary pressures.

Retail sales rebounded in June, signaling that tariffs have not yet had a substantial impact on consumer spending.

The preliminary consumer sentiment index for July exceeded expectations for the fourth consecutive month, maintaining its strong recovery since April’s lows.

Initial jobless claims fell to a three-month low, pointing to ongoing strength in the labor market.

The Philadelphia Fed’s business outlook index climbed to one of its highest readings in three years, reflecting robust business sentiment—further supported b…