Weekly Economic Update: April 18-22, 2011
Overview: Housing starts increased 7.2% in April as building permits rose 11.2% and existing home sales increased 3.7%. Initial jobless claims fell 13,000 to a level of 403,000 for the week ended 4/16.
- Housing starts increased more than expected in March, rising 7.2% to an annual pace of 549,000.
- Building permits also exceeded expectations with an 11.2% increase to an annual pace of 594,000 units in March.
- Existing home sales rose 3.7% in March to an annual pace of 5.1 million units.
- Initial jobless claims fell 13,000 to 403,000 for the week ended April 16th.