Weekly Economic Update: March 25-29, 2013

Apr 01 2013

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Durable goods orders increased 5.7% in February. The Case-Shiller home price index rose 1.0% in January. New home sales increased 0.8% to an annualized pace of 411,000 in February. Pending home sales declined 0.4% in February. The 3rd estimate of 4th quarter 2012 GDP was revised up to an annualized rate of 0.4%. Personal income rose 1.1% and personal spending rose 0.7% in February. Initial jobless claims rose 16,000 to 357,000 for the week ended 3/23.

• Durable goods orders increased 5.7% in February. Excluding transportation, new orders fell 0.5%.

• The S&P Case-Shiller home price index increased 1.0% in January and is up 8.1% over the year. All 20 cities show gains for the second month in a row.

• New home sales declined 4.6% to an annualized pace of 411,000 in February. Sales are up 12.3% from a year ago.

• Pending home sales declined 0.4% in February.

• The third estimate of GDP for the 4th quarter of 2012 was revised up to an annualized rate of 0.4%.

• Personal income rose 1.1% and personal spending increased 0.7% in February.

• Initial jobless claims rose 16,000 to a level of 357,000 for the week ended March 23rd.

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