Overview: The topline producer price index rose 0.7% in March; the core PPI rose 0.1%.  Existing home sales increased 6.8% to an annual pace of 5.35 million units in March.  New home sales rose 27% to an annual pace of 411,000 units in March.  Durable orders were down 1.3% in March.  Initial jobless claims fell by 24,000 to a level of 456,000 for the week ended 4/17.

The topline producer price index rose 0.7% in March; the core PPI rose 0.1%.

Existing home sales increased 6.8% to an annual rate of 5.35 million units in March. An improvement in weather from February (which included a number of major winter storms), as well as the impending expiration of the extended homebuyer credit for contracts made by April 30th likely contributed to the increase in sales.

New home sales shot up significantly more than expected, with a 27% rise to an annual pace of 411,000 units in March.  Like existing home sales, the improvement in weather from February likely played a role in the rise in sales. 
Also contributing to the rise in new homes sales was the impending expiration of the homebuyer credit which was extended to include a $6,500 credit for current home owners.

Durable orders fell 1.3% in March.  Excluding autos, orders were up 2.8%.

Initial jobless claims fell by 24,000 to 456,000 for the week ended April 17th.