Succinct Summations for the week ending April 27th, 2018
Positives:
1. First quarter GDP rose 2.3%.
2. Durable goods orders rose 2.6%, beating the expected 1.7%.
3. Jobless claims fell 21k, down from 232k to 209k.
4. Existing home sales rose 1.1%, beating expectations; New home sales rose to 694k, above the 630k expected.
5. PMI Composite rose to 54.8, up .5 from prior 54.3.
6. Consumer confidence rose to 128.7, up 1 from previous 127.7.
7. Wholesale inventories rose 0.5% for the month of March.
Negatives:
1. Core durable goods orders in March disappointed. Non defense capital goods orders ex aircraft fell 0.1% m/o/m, versus estimate up 0.5%.
2. Retail inventories fell .4% for the month of March.
3. Mortgage applications remain unchanged w/o/w after previous rise of 6%.
4. Imports fell 2.1% while exports rose 2.5%, decreasing the goods deficit.
5. Chicago Fed National Activity Index fell to .10% for March, .88% lower than previous.
Thanks Matt!
