NO ACCELERATION: Momentum in U.S. hiring and home sales appears to be slowing, according to fresh data. A possible weakening in two critical elements of the economy suggests growth could stay modest this year.
UNEMPLOYMENT BENEFITS: The average number of people seeking unemployment benefits over the past month rose to 374,750, a three-month high. The increase follows a report earlier this month that hiring weakened in March.
HOME SALES: Sales of previously owned homes fell 2.6 percent to an annual rate of 4.48 million. Mild weather boosted sales in the previous two months, essentially stealing sales from March.
Construction Spending "Once Again Defies Expectations" Much Weaker Than Expected; Four Reasons Economists Perplexed | Mike Shedlock