Chain Store Sales (week ended 3/30/2013)
– Week/Week +4.7%. Previous was -1.7%
– Year/Year +1.9%. Previous was +1.0%.
Store Sales Year/Year 3.5%. Previous was +2.6%.
The gains are nice but due, in part, to the Easter holiday which drifts about the calendar.
The Consumer Metrics Absolute Demand Index (an index of on-line shopping) has been flat for over two weeks.
Factory Orders (February 2013)
– Factory Orders – Month/Month +3.0%. Previous was -2.0%.
– Factory Orders ex-aircraft were +0.3%. Previous was +2.0%.
FNMA reported record profit of $17.2 billion showing that making fully documented loans to people with good credit and debt ratios can be profitable. If this keeps up, someone will get the idea that the taxpayers do not have to stand behind any mortgages other than FHA and VA.