Last week a number of important economic variables were released with mixed outcomes. The mixed economic reports are reflective of a still slow growth economy.
- In spite of historically low interest rates, the housing sector is not showing strong signs of growth. Existing home sales fell .2% and they are down 7.5% on a year to date basis. New homes sales data was even worse as they fell 14.5% in March.
- In the manufacturing sector, durable goods orders spiked 2.6%. Even excluding transportation durable goods climbed 2.0%. Excluding transportation segments, all major components were positive.
- Leading Indicators exceeded expectations and rose .8%. One positive contributor to the leading indicators was the contribution from a gain in factory average weekly hours.
A comprehensive review of last week's reports can be found at Econoday's economic calendar. The coming week also contains potentially market moving economic data, GDP (W), jobless claims (Th) and the employment situation report (F). This week also contains a two day FOMC Meeting with the announcement occurring at 2:00pm on Wednesday.
Other topics of potential interest can be found in the Week Ahead Magazine link below.
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