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April new home sales disappoint

April new home sales disappoint

New home sales in April were at a seasonally adjusted annual rate of 569,000. That was well below the consensus among economists surveyed by Briefing.com for annualized sales of 605,000. The April annualized rate was down 11.4% from March. The housing market...
Markets rediscover risk–for a day anyway

Markets rediscover risk–for a day anyway

This morning it looks like the combination of turmoil in Washington and some weak economic data have led traders and investors to take money out of risk assets and put money into safe havens. As of 11:40 a.m. New York time, the Standard & Poor’s 500 was off...
Can Congress keep its eyes on the prize this week?

Can Congress keep its eyes on the prize this week?

Really, this ought to be a no-drama, no-brainer. On Friday Congress passed a one-week extension so that it could write a clean extension of the government’s spending authorization to take Washington through the end of the fiscal year in September. The agreement...
U.S. GDP growth rate a tepid 0.7% in first quarter

U.S. GDP growth rate a tepid 0.7% in first quarter

The U.S. economy expanded at an annualized pace of 0.7% in the first quarter, the Commerce Department reported this morning. That’s the slowest pace in three years. Economists surveyed by Bloomberg were looking for growth of better than 1%. The Atlanta...