Archive: April, 2013
KEY DATA: Case-Shiller (20-City): 1.2%; Year-over-Year: 9.3%/Wages and Salaries (Year-over-Year): 1.6%
IN A NUTSHELL: "A sluggish economy may be holding back wage gains but it is not stopping the surge in housing prices."
INDICATOR: March Consumer Spending and Income
KEY DATA: Consumption: +0.2%; Disposable Income: +0.2%; Savings Rate: 2.7%
IN A NUTSHELL: "Sluggish wage and salary gains is leading to lower savings and that raises questions about the sustainability of consumer spending."
INDICATOR: First Quarter 2013 GDP
KEY DATA: GDP: +2.5%; Consumption: 3.2%; Federal Government: -8.4%
IN A NUTSHELL: "The economy didn't look like a super-ball as the bounce back from the end of year slump was nothing spectacular."
INDICATOR: March Durable Goods Orders
KEY DATA: Durables: -5.7%; Civilian Aircraft: -48.2%; Business Investment: +0.2%
IN A NUTSHELL: "The Boeing boomerang may have crashed orders but there was little strength anywhere else."
KEY DATA: Sales: up 1.5%; Year-over-Year: up 18.5%/FHFA Prices: up 0.7%; Year-over-Year: 7.1%
IN A NUTSHELL: "The slow but steady rise in new home sales, coupled with increasing prices, bodes well for future construction activity."
INDICATOR: March Existing Home Sales
KEY DATA: Sales: down 0.6%; Year-over-Year: up 10.3%; Median Prices (Year-over-Year): up 11.8%
IN A NUTSHELL: “Home prices are soaring even as sales are stagnating.”
KEY DATA: Leading Indicators: -0.1%/ Philly Fed: down 0.7 point/ Claims: 352,000 (up 4,000)
IN A NUTSHELL: "Growth is continuing but a spring slowdown looks to be in place."
INDICATOR: March Housing Starts and Permits
KEY DATA: Starts: up 7%; 1-Family: -4.8%; Multi-Family: +31.1%; Permits: down 3.9%
IN A NUTSHELL: "Housing starts soared but the momentum may not be sustained as builders are taking out permits for new construction much more cautiously."