MetroIntelligence Economic Update by P. DUFFY

Pending Home Sales fell 1.5 percent in April, down 2.0 percent year-on-year

The Pending Home Sales Index  fell 1.5% to 104.3 in April, down from 105.9 in March. Year-over-year contract signings declined 2.0%, making this the 16th straight month of annual decreases.

www.nar.realtor/newsroom/pending-home-sales-trail-off-1-5-in-april

 

1Q 2019 GDP growth revised down to 3.1 percent in second estimate

Real gross domestic product (GDP) increased at an annual rate of 3.1 percent in the first quarter of 2019 according to the “second” estimate, which was down from 3.2 percent in last month’s initial estimate.  In the fourth quarter, real GDP increased 2.2 percent.

www.bea.gov/news/2019/gross-domestic-product-1st-quarter-2019-second-estimate-corporate-profits-1st-quarter

 

Int’l trade deficit rose to $72.1 billion in April

The international trade deficit was $72.1 billion in April, up $0.2 billion from March as exports fell 4.2% and imports dropped by 2.7%. Still, wholesale inventories climbed by 0.7%, and retail inventories grew by 0.5%. Compared with a year ago, exports have dropped 3.6% as imports have fallen 0.9%.

www.census.gov/econ/indicators/advance_report.pdf