There were few reports released this week, but the ones that were showed us a continued healthy economy. Existing homes sales for March was down to 5.21 million from 5.48 million. However, new home sales were up to 692,000 from 662,000 and with last week’s homebuilder’s index rising the summer sales season looks, if not strong, at least good. March’s durable goods orders rose sharply to 2.7% from a negative 1.1% and much better than the expectation of a rise of only .5%. Core orders were also up 1.3%; strong numbers.
The economy remains on a solid foundation with modest growth.