2008-04-22 Existing Home Sales

Existing Home Sales (Mar)

Survey 4.92M
Actual 4.93M
Prior 5.03M
Revised n/a

2008-04-22 Existing Home Sales MoM

Existing Home Sales MoM (Mar)

Survey -2.3%
Actual -2.0%
Prior 2.9%
Revised n/a

Better than expected.
Might really be a bottom forming.

2008-04-22 House Price Index MoM

House Price Index MoM (Feb)

Survey -1.5%
Actual 0.6%
Prior -1.1%
Revised -1.0%

Up? Who would have thought?

2008-04-22 Richmond Fed Manufacturing Index

Richmond Fed Manufacturing Index

Survey -1
Actual 0
Prior 6
Revised n/a

2008-04-22 Richmond Fed Manufacturing Index TABLE

Richmond Fed Manufacturing Index TABLE

Yes, another number better than expected and not looking so bad?

Fiscal package kicking in soon as well.

Prices firm through the slowdown, wonder what they might do if the economy stabilizes?

2008-04-22 ABC Consumer Confidence

ABC Consumer Confidence (Apr 20)

Survey n/a
Actual -40
Prior -39
Revised n/a

Still constant negative news on TV.

2 Responses

  1. How will consumers use the stimulus package on staples or discretionary spending? Many pundits have said consumers will pay down their credit cards.

  2. my guess is the ‘multiplier’ will be less than 1, but maybe 70% the first month or so. and any cards paid down will likely be run up reasonably soon.

    if you’re worried about inflation doesn’t seem like a good time to be adding to demand and handing out checks so people can pay the higher gas prices and still buy other things as well.

    if you’re not worried about inflation any output gap is too large.

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