U.S. Outlook: An encouraging upward revision

Posted By Scott Anderson In Economic Outlook | No Comments

We got a number of somewhat better U.S. economic reports this week, mostly from the housing market.

Graph showing rise in home sales, year-over-year [1]But the upward revisions in the April durable goods report were the most encouraging development for the U.S. economic growth prospects over the near term.

For more on this and other economic developments this week, see my full analysis. Highlights are outlined below, followed by a link to the full U.S. Outlook report, delivered on May 29.

Key observations:
  • Non-defense capital goods orders, excluding aircraft, were revised higher for March and January of this year, and November and December of last year.
  • The bright spot in the economy continues to be the prospect of stronger housing activity and consumer spending in 2015.
  • The rising demand for existing homes is continuing to push existing home prices higher.
Click here to read my full report. [2]

Article printed from Bank of the West: https://changematters.bankofthewest.com

URL to article: https://changematters.bankofthewest.com/2015/05/29/u-s-outlook-an-encouraging-upward-revision/

URLs in this post:

[1] Image: http://blog.bankofthewest.com/wp-content/uploads/2015/05/graph_homesales_052915.jpg

[2] Click here to read my full report.: http://blog.bankofthewest.com/wp-content/uploads/2015/05/BankoftheWest_USOutlook_05_29_15.pdf

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