2nd estimate of 1st Quarter GDP; April’s income and outlays, durable goods, & new home sales
The key economic reports released last week were the second estimate of 1st quarter GDP and the April report on Personal Income and Spending , both from the Bureau of Economic Analysis, and the April advance report on durable goods and the April report on new home sales , both from the Census bureau….This week also saw the release of the widely watched March Case-Shiller Home Price Index from S&P Case-Shiller , an index which is computed from the relative average of January, February & March home sales prices as compared to home sales prices of the same homes when they sold during previous 3 month periods; the Case Shiller index indicated that home prices nationally for those 3 months averaged 0.7% higher than prices for the same homes that sold during the same 3 month period a year earlier, down from the 0.8% year over year increase they reported for their February national index, covering home prices for December, January and February… In addition, the last two regional Fed...