Fellow Shortrunners,

     Data Analysis Only This Week.

Economic Releases
The data section provides charts and data for the most important economic indicators.

Consumer Confidence: 83.8
Release Date: 5/27

• The Conference Board's Index of Consumer Confidence rose during May following an increase in its index of leading indicators the week before. Analysts are suggesting that confidence levels are in line with a weak recovery. Rebuilding consumer confidence is an integral part of further economic growth. Companies must perceive future growth to continue with hiring plans, pay raises, and new investment activity.

Existing Home Sales: 5.6%
Release Date: 5/27

• During April, existing home sales rose 5.6% to just under 6 million units.  The strength in home sales bolstered the financial markets which are looking for signs of confidence in the economy.  Analysts suggest that at least part of the rise was due to favorable weather and other sales conditions.

New Home Sales: 1.7%
Release Date: 5/27

• According to the Commerce Department, new home sales reached 1.03 million units during April, exceeding expectations.  The housing market continues to outperform the general economy and to support US economic growth.  In many parts of England which had been experiencing a speculative boom as well, housing prices are falling sharply.  This has raised worries that without further economic recovery, the US housing market may be in jeopardy as well.

Advance Durable Goods: -2.4%
Release Date: 5/28

• During April, sales of durable goods declined 2.4%, erasing March's increase. Excluding defense orders which have been buoying figures lately, advance orders declined 3%. Falling orders are a sign that businesses are unsure about future economic growth, delaying investment and acquisition plans. Weakness will probably hit the manufacturing sector hardest. Regardless, Wednesday's release had little visible impact on US financial markets.

Jobless Claims: 424,000
Release Date: 5/29

• Initial jobless claims rose to 424,000 last week and appears to be hovering well above the 400,000 figure.  Jobless claims at this level are suggestive of a weak labor market.  Overall unemployment will likely not improve until business activity picks back up.  Continuing a rising trend, continuing claims rose to 3.76 million from 3.68 million.

1st Quarter GDP Revision: 1.9%
Release Date: 5/30

• The Bureau of Labor Statistics revision to 1st quarter GDP raised its estimate from 1.6% to 1.9%.  The stronger performance was due in a large part to an upward revision in consumer spending, the largest component of GDP.

Personal Spending/Income: 0.0% / -0.1%
Release Date: 5/30

• Personal income and consumption showed little change during March.  The lack of consumer spending is not surprising given the lack of improvement in the job market and the absence of a strong post-war boom.  The declining income figure had little impact on the markets as analysts shrugged off the monthly figure.

ECRI Weekly Leading Index: 121.5
Release Date: 5/30

• The ECRI Weekly Leading Index remained unchanged at 121.5 last week.  Economists at the ECRI cited widening yield spreads and a weak performance on the stock market as downside risks and improved industrial performance and falling jobless claims as positive factors.

Site News

     As usual, I welcome comments or feedback; simply reply to this newsletter.

If you would like to unsubscribe, simply reply with the word unsubscribe in the subject line.

Issue #154

the short run weekly is a free service. please help support its development.

SCREEN SAVER
Do you like our intro movie?  Then download the shortrun.com screen saver now!