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The Economy

May 7, 2014 | Weekly Commentary

Last week’s economic data was a bit mixed.  Forward looking economic indicators are more promising as compared to the release of first quarter results.  April’s economic data seems to be confirming that first quarter data will be a blip in a continued growth cycle.  The following is a review of economic data released last week:

  • First quarter US Gross Domestic Product stalled at .1% coming in under consensus, but by no means a shock due to the consideration of weather related factors.
  • US Non-Farm Payrolls rose 288k in April as the unemployment rate fell to 6.30% from 6.70% in March of 2014.
  • Pending home sales month over month came in at 3.4%, higher than the consensus estimate of 1%.

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