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The 2nd quarter Employment Cost Index came in at .6%, on a year ago basis costs increased 2.3% led by wages and salaries up .6% for the quarter and benefits up .5%. On a year ago basis wages have gained 2.5% while benefits have increased 2%.

The Chicago Purchasing Managers Index of manufacturing activity beat expectations despite slipping fractionally to 55.8 in July on weakness in new orders to round out the week’s data.

This is Caleb Lawrence Registered Investment Adviser Scotts Valley Drive and Willis Road in the Scotts Valley Plaza, Suite 202 or call me toll free at 888-RICH PIG / 888-742-4744.

You can catch me on the radio at noon each business day as well on California’s central coast. KPIG 107.5 FM in the Monterey Bay or KPYG 94.9 FM in San Luis Obispo.

Rebroadcasts, additional writings and other entries are also available on my Blog at www.clinvestments.com

Advisory services offered through Caleb Lawrence Registered Investment Adviser Inc.

 

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