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Daily Roundup of Key US Economic Data for Aug. 5

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ADP private payrolls rose by 44,000 in July after a downwardly-revised 95,000 jobs gain in June, below expectations.

The services sectors added 47,000 jobs, led by a 36,000 increase in education and health services hiring, while leisure and hospitality hiring and trade, transportation and utilities hiring declined.

Goods sector payrolls fell by 3,000 jobs, with construction and manufacturing payrolls growth more than offset by a decline in hiring in the natural resources and mining sector.

The ISM's services index rose to 54.1 in July from 54.0 in June, with gains in the readings for production, new orders and prices but a decline in the employment index to now indicate contraction.

The S&P Global nonmanufacturing index was revised higher in July to 54.6 from the flash 53.6 estimate and was above the 51.2 reading in June.

The Mortgage Bankers Association reported a 2.9% decline in mortgage applications in the week ended July 31 after a 6.4% drop in the previous week. Refinancing activity and new home applications both declined in the week as 30-year fixed mortgage rates rose to their highest level in over a year.

Total crude oil inventories fell by 400,000 barrels in the week ended July 31, with commercial oil inventories up 2.5 million barrels and stocks in the US Strategic Petroleum Reserve down 2.8 million barrels. Gasoline inventories and distillate inventories both decreased last week.

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