Weekly Economic Update: March 22-29
Overview: GDP grew at an annual rate of 5.6% in the 4th quarter of 2009. Existing home sales fell 0.6% in February as new home sales declined 2.2%. Durable orders were up 0.5% in February. Initial jobless claims fell by 14,000 to a level of 442,000 for the week ended 3/20.
GDP growth for the 4th quarter of 2009 was revised downwards to a real, annualized rate of 5.6%, from an earlier estimate of 5.9% growth.
Existing home sales edged down 0.6% to an annual pace of 5.02 million units in February.
New home sales fell 2.2% to an annual pace of 308,000 in February.
Durable orders were up 0.5% in February. Excluding autos, orders were up 0.9%.
Initial jobless claims fell by 14,000 to 442,000 for the week ended March 20th.