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Prospects daily: Contracts for home sales strong in final month of federal tax credit

Global Macroeconomics Team's picture

Pending sales of existing U.S. homes increase in April. The National Association of Realtors’ index of pending home sales, defined as purchase agreements where initial contracts have been signed but financing has not been completed, rose 6% (m/m) in April, following an upwardly revised gain of 7.1% in March. April marked the final month of the federal tax credit program, and housing market activity surged in the previous few months as households rushed to take advantage of the program.

South Africa: Growth Acceleration Bodes Well for 2010 (World Cup?) Prospects

Theo Janse van Rensburg's picture

In light of the GDP figures released on 25 May 2010, which indicated that growth accelerated further to 4.6% in 2010q1 (from 3.2% in 2009q4), this short note provides a brief analysis of the implications for GDP growth in calendar 2010 as well as for the South African Government’s Budget Review growth forecast.

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