Economic Statistics for 22 May 12
The following statistics were released today on the state of the US economy:
Existing home sales improved in April, but not as much as expected, coming in at a 4.62 million annual rate. Sales were up 3.4%, but that was to be expected after a terrible March report. Sales were up 10% compared to last year.
The Richmond Fed Manufacturing Index shows regional growth slowing sharply for the month, falling to 4 from 14.
In weekly retail sales, ICSC-Goldman reports a-1.7% drop in store sales from last week, with the year on year rate down to 3.8%. Similarly, Redbook reports year on year same-store sales up only 2.7% down a full percentage point from last week.