Weekly Economic Update: March 26-30, 2012
Personal income increased 0.2% in February; spending was up 0.8%. Pending home sales were down 0.5% in February. The Case-Shiller home price index was unchanged for the month of January. Durable orders increased 2.2% in February. GDP growth was 3.0% in the 4th quarter of 2011. Initial jobless claims decreased 5,000 to 359,000 for the week ended 3/24.
- Personal income rose 0.2% in February as personal spending increased 0.8%.
- Pending home sales declined 0.5% in February.
- The Case-Shiller home price index was essentially unchanged for the month of January and was down 3.8% from a year ago. The index, which has continued to decline since its peak in April of 2006, is at a level last seen nine years ago in January of 2003.
- Durable orders increased 2.2% in February. Excluding transportation, orders were up 1.6%
- GDP growth for the 4th quarter of 2011 was 3.0%, according to the third estimate. There was no revision to growth from the previous, second estimate.
- Initial jobless claims declined 5,000 to a level of 359,000 for the week ended March 24th.