Free Markets, Free People


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.

~
Dale Franks
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