thanks, a few quips below:
Karim writes:
- Conference Board survey falls from 62.8 to 57.2 (lowest since 1992)
- Both present situation and expectations decline
Labor conditions, plans to buy home and plans to buy auto all fall to new cycle lows
Tough living in an export economy.
- 1yr inflation expectations jump from 6.8 to 7.7
Inflation rips as non-residents outbid us for your output, as all our funds are spent on food and fuel.
- Case Shiller Home price index accelerates rate of decline, down 6.7% q/q and 14.1% y/y
Narrow index of 20 metro regions, with 4 or 5 biggest spec boom/bust regions doing most of the damage.
- New home sales rise 3.3% in April; mths inventories fall from 11.1 to 10.6
Coming back from unsustainably low levels give the US population and income growth.
Actual homes in inventory fell to the lowest levels since July.
- Jan-March sales data revised lower by cumulative 5.5%
Tough first quarter with record low consumer sediment 🙂 behind us.