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Economy in Brief
EMU Trade Surplus Expands on Weak Import Rise
In the EMU, both import and export gains were modest in January...
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The Bureau of Labor Statistics reported that the total job openings rate increased to 4.8% during January...
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Industrial production increased a less-than-expected 0.1% (3.5% y/y) during February...
Empire State Manufacturing Index Retreat Suggests Continued Slow Growth
The Empire State Manufacturing Index of General Business Conditions fell to 3.7 this month...
EMU Inflation Trends Are Still Weak
The EMU HICP for February gained 0.1%, the same as in January, after a 0.2% decline in December...
by Tom Moeller June 24, 2005
New single-family home sales in May rose 2.1% m/m to 1.298M. The figure was slightly below the record level reached last October but sales during prior months were revised lower. Consensus estimates had been for sales of 1.32M.
Sales in the Northeast in May gave back all of the prior month's spurt (-28.2% y/y) and sales in the South fell 0.8% (+3.8% y/y), down for the fourth month this year. Sales in the Midwest rose 22.9% (28.2% y/y) to a record high and sales out West rose 1.7% (0.8% y/y).
The median price of a new single family home fell 6.5% to $217,000 (+2.5% y/y), the lowest level since last September.
The figures from the Census Department reflect homes sold.
| Homes Sales (000s, AR) | May | April | Y/Y | 2004 | 2003 | 2002 |
|---|---|---|---|---|---|---|
| New Single-Family | 1,298 | 1,271 | 4.4% | 1,200 | 1,091 | 976 |
