April 2, 2014
LIA Monthly Economic Report: April 2014
By: Dr. John Rizzo
The US economy showed some signs of strength in the past month. Labor market conditions improved, albeit at a modest pace. Jobless claims remained at levels consistent with expansion in the labor market. Personal income rose and consumer confidence about future economic conditions were favorable. A sharp decline in sales of new and existing homes is cause for some concern, however. This may reflect severe weather conditions. But rising home prices and mortgage rates, as well as limited existing home inventories, may also have played a role. If the decline was driven by weather, one can anticipate a robust rebound in home sales in the coming months.
Inflation remained very low and the stock market showed resilience. Both of these factors bode well for consumer confidence and spending going forward. Read More.