The Economic Week In Review

* Leading Indicators, inched up .1% trying to suggest that the economy will not officially dip into a recession.(Monday)

* Producer Price Index .2% increase seems tame following the 1.1% surge last month. (Tuesday)

* FOMC Meeting Minutes the Fed lowered it’s forecast for economic growth and indicated that it was pausing in it’s interest rate strategy for a while. They believe that while growth is contracting in the first half of 2008 it will rebound in the latter half of the year.(Wednesday)

* Jobless Claims came in at 365K which seems to suggest a stabilization in the jobs market.(Thursday)

* Exisiting Home Sales dropped by 1% in April and inventories rose from a supply of 10 months to 11.2 months.(Friday)

* Bonds…2 year 2.45%, 5 yr. 3.15% and the 10 yr. 3.85%….so far as market has not closed on the day yet, but will close early for the Memorial Day Holiday.

* Crude oil has been the big story this week hitting record highs, right now it’s sitting at $132.82 per barrel, below the record of $135 it hit yesterday.

Of note this past week:

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