Overview:  Personal income and spending increased 0.4% in April.  New home sales rose 7.3% as pending home sales fell 11.6% in April.  Durable orders declined 3.6% in April.  GDP growth for the 1^st quarter remained unchanged at 1.8% according to the second estimate.  Initial jobless claims rose by 10,000 to a level of 424,000 for the week ended 5/21.

• Personal income and personal spending both increased 0.4% in April. 
• New home sales rose 7.3% to an annual rate of 323,000 units in April.    
• Pending home sales fell 11.6% in April.
• Durable orders fell 3.6% in April; excluding transportation orders were down 1.5%.
• GDP growth for the 1^st quarter was unchanged at a rate of 1.8% according to the second estimate. 
• Initial jobless claims rose by 10,000 to 424,000 for the week ended May 21^st.