Economic Statistics for 24 Apr 12
The following statistics were released today on the state of the US economy:
Redbook is disappointing today, showing same-store, year-over-year retail sales up only 2.7%. In contrast to Redbook, ICSC-Goldman shows a 0.8% increase in sales over last week, with the year over rate rate up 3.6%.
New homes in March were sold at a 328,000 unit annual rate. This was slightly less than expected but was offset by large upward revisions to prior months.
The Case-Shiller Home Price composite 20 city index rose 0.2% last month, following a revised 0.1% dip the prior month. Home prices keep bouncing along the bottom. Meanwhile, the FHFA reports house prices in February rose 0.3%, following a 0.4% decline in January.
The Consumer Confidence Index fell one full point in April, to 69.2, mainly on falling income expectations.
The State Street Investor Confidence Index is down a sizable 3.9 points this month to 87.7, indicating falling confidence among institutional investors.
While manufacturing has been weakening according to other data, the Richmond Fed’s Manufacturing Index rose 7 points to 14.
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Dale Franks
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Dow is up, but only regained half of what it lost last week, Still we have become used to these week long corrections. Overall we are still gaining slightly. What I cannot understand is that when the market tanks due to euro fears, gold should go up, but instead it goes down.
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