Weekly Economic Update: October 25-29, 2010

Nov 01 2010

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Overview:  GDP grew at an annual rate of 2.0% in the 3rd quarter.  Existing home sales rose 10.0% in September; new home sales rose 6.6%.  The Case-Shiller index declined 0.2% in August.  Durable orders rose 3.3% in September.  Initial jobless claims fell by 21,000 to a level of 434,000 for the week ended 10/23.

GDP grew at an annual rate of 2.0% in the 3rd quarter of 2010, according to the advance estimate. Inventories accounted for much of the growth (inventories added 1.44 percentage points out of the 2.0). 

Existing home sales rose 10.0% to an annual pace of 4.53 million units in September.

New home sales rose 6.6% to an annual pace of 307,000 units in September.

The Case-Shiller index declined 0.2% in August.  On a year-over-year basis, the index was up 1.7%.

Durable orders rose 3.3% in September; excluding autos, orders fell 0.8%.

Initial jobless claims fell by 21,000 to 434,000 for the week ended October 23rd.  

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