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April 29, 2013

Pending Home Sales up. Personal Income up. Dallas Fed Horrible.

April 29, 2013

Pending Home Sales up. Personal Income up. Dallas Fed Horrible.

To open the week, rates are holding lows were we left off Friday. Not quite record lows, but very close: within .125%. Below is a roundup of today’s U.S. economic fundamentals.

Personal Income and Outlays (March 2013)

– Personal Income – Month/Month 0.2%. Previous was +1.1%.

– Consumer Spending – Month/Month  0.2%. Previous was +0.7%

– PCE Price Index — Month/Month  -0.1%. Previous was +0.4%.

– Core PCE price index – Month/Month  0.0%. Previous was +0.1%.

– Personal Income – Year/Year  2.5%. Previous was +2.6%.

– Consumer Spending – Year/Year  3.5%. Previous was +3.3%.

– PCE Price Index (consumer based inflation) Year/Year 1.0%.

– Core PCE price index – Year/Year  1.1 %.

The impact of higher Social Security taxes on individuals paychecks may be showing here. This data is soft but follows a strong February.

Pending Home Sales Index (March 2013)

– Pending Home Sales Index –  105.7. Previous was 104.1.

– Pending Home Sales Index – Month/Month 1.5%.  Previous was -0.4%.

This is the opposite of Personal Income/Outlays.  This is a strong month following a weak previous month.

Dallas Federal Reserve Manufacturing Survey  (April 2013)

– This is a report on the economy of Texas. 

– Business Activity Index -15.6. Previous was +7.4.

– Production Index -0.5. Previous was +9.9.

Capacity Utilization, shipments and new orders were down.  The employment index was up. Expectations regarding future business conditions fell markedly in April. The index of future general business activity fell 22 points to -6.7, its first negative reading in five months.