Quick Overview

• The Department of Commerce said that real GDP increased 2.9% in the second quarter, up from the previous estimate of 2.5%. YoY real GDP is up 3.6%.
  

• Mortgage application dropped from 561.5 to 556.5 last week, down 23% YoY.
  

• China's economic growth for 2005 was revised from 9.9% to 10.2%.
  

• Retail sales in Australia were up .6% in July. The September Australian dollar was down .06 at 76.30.
  

• Japan's retail sales were down 1.7% in July.

• MoM Japan's industrial production fell in July due partly to a slowdown in exports, pushing down the yen and bond yields.
  
  

• The U.S. Department of Energy said that :
  Supplies of crude oil were up 2.4 million barrels to 332.8 million barrels
  Supplies of unleaded gasoline were up 400,000 barrels
  Supplies of heating oil were up 2.3 million barrels.