Daily Archives: February 26, 2013
The following US economic statistics were announced today:
New home sales in January rose 15.6% to an annualized 437,000 in January, though large seasonal factors may exaggerate the winter months. Monthly supply dipped to 4.9 months from 5.6 months in December, as supplies constrain sales.
The Conference Board’s consumer confidence index rose a steep 10 points in February, to a better than expected 69.6.
The S&P/Case-Shiller home price index rose a strong 0.9% in December, and is up 6.8% on a year-over-year basis. Similarly, the FHFA House Price Index rose 0.6% in December, and is up 5.8% on a year-over-year basis.
In weekly retail sales, Redbook is reporting a respectable 2.7% year-over-year sales growth. ICSC-Goldman Store Sales are up only 0/1% from last week, but up 2.9% from last year.
When you hear all this nonsense coming out of DC about “spending cuts”, “savings”, sequestration or just about anything to do with budget, deficit or debt, who’s fault it is, etc. – even while they plan to kick it down the road, again – take it with a grain of … pie.