Weekly Economic Update: June 24-28, 2013

Jul 01 2013

Associated Image

Durable orders increased 3.6% in May. The Case-Shiller home price index was up 1.7% in April. New home sales increased by a greater-than-expected 4.8% in May to an annual pace of 476,000 units. Pending home sales were up 6.7% in May. Real GDP growth for the 1st quarter of 2013 was 1.8%. Personal income increased 0.5% in May as personal spending edged up 0.3%. Initial jobless claims fell 9,000 to 346,000 for the week ended 6/22.

• Durable orders increased 3.6% in May. Excluding transportation, orders were up 0.7%.

• The Case-Shiller home price index was up 1.7% in April. On a year-over-year basis, the index was up 12.1%. The index for the DC area was up 2.4% for the month, and up 7.3% from a year ago.

• New home sales increased by a greater-than-expected 4.8% in May to an annual pace of 476,000 units. The median new home price of $263,900 was down 3.2% from April and up 10.3% from a year ago.

• Pending home sales were up 6.7% in May.

• Real GDP growth for the 1st quarter of 2013 was 1.8%. The third estimate was unexpectedly revised downward significantly from the previously reported second estimate of 2.4%. The biggest downward revision was to personal consumption.

• Personal income increased 0.5% in May as personal spending edged up 0.3%.

• Initial jobless claims fell 9,000 to a level of 346,000 for the week ended June 22nd.

 

Bookmark and Share