ACC's Economic Outlook for the Week Ended April 20, 2012

MACROECONOMIC STATUS Our running tab of positive indicators remained at 15 out of 20 this week. Thus, we continue to post a green banner. Retail Sales up 0.8%; up 6.5% Y/Y Business Inventories up 0.6%; up 7.6% Y/Y Housing Starts down 5.8%; up 10.3% Y/Y Building Permits up 4.5%; up 30.1% Y/Y Existing Home Sales down 2.6%; up 5.2% Y/Y Industrial Production – flat –; up 3.8% Y/Y Capacity Utilization down 0.1 points to 78.6% LEI up 0.3%; up 2.1% Y/Y Philadelphia Fed Survey down 4.0 points to 8.5 (expanding) Empire State Survey down 13.6 points to 6.6...

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