The following statistics were released today on the state of the US economy:

March retail sales were much stronger than expected, being up 0.8% at both the headline and core levels, and up 0.7% ex-gas and autos.

The Empire State Mfg Survey points to slow but steady manufacturing growth in the New York region, with the index at 6.56 in April.

The net inflow of securities to the US slowed sharply in February, to a net $10.1 billion vice a revised $102.4 billion last month.

Inventory accumulation will probably improve this quarter’s GDP, as February inventories increased by 0.6% due to rising demand.

The Housing Market Index fell 3 points to 25, after seven months of gains. All three components declined this month.

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Dale Franks
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