Market Review, May 2013

Publication Date: 

June 2013

Summary: 

Economic reports were mixed in May. Consumer confidence, home sales and labor markets posted better than expected data while industrial production, auto sales, personal spending and construction spending reports lagged expectations. The U.S. economy grew 2.4% during the first quarter of 2013, slightly lower than the initial estimate of 2.5%, but higher than prior quarter’s 0.4%. Business inventories and exports grew slightly less than previously reported. Wall Street estimates for second quarter GDP are in the 1.0% to 2.0% range.