6/21/12, "Sales of Existing U.S. Homes Fell in May to 4.55 Million," Bloomberg, Woellert
"Sales of previously owned U.S. homes declined in May, showing an uneven recovery in residential real estate.
Purchases of existing properties dropped 1.5 percent to a 4.55 million annual rate last month, figures from the National Association of Realtors showed today in Washington. The median forecast of economists surveyed by Bloomberg News called for a 4.57 million pace. ...
Stocks declined after a Fed report showed manufacturing in the Philadelphia region contracted at the fastest pace in almost a year. The Standard & Poor’s 500 Index decreased 0.3 percent to 1,351.25 at 10:48 a.m. in New York.
The Federal Reserve Bank of Philadelphia’s general economic index fell to minus 16.6 in June from minus 5.8 the previous month.
Economists forecast the gauge would improve to zero,
the dividing line between growth and contraction, according to the median estimate in a Bloomberg survey. The report covers eastern Pennsylvania, southern New Jersey and Delaware."...
.
No comments:
Post a Comment