Weekly Indicators: almost all coincident indicators turn soft or negative edition

In the rear view mirror, Q2 GDP was reported at +2.3%, in line with expectations. Median wages and benefits just barely increased. Monthly data for July started out with the best Chicago PMI reading in 6 months. Monthly data for June included positive durable goods, positive house prices, but negative pending home sales. Both measures of consumer confidence were down, one (Michigan) slightly, the other (Conference Board) significantly.