New Home Sales Remain Weak.

New Home Sales  (March 2016)

– New Home Sales seasonally adjusted, annualized 511,000. Previous was 519,000.
This is weak. We should probably be happy with a level of about 700,000-800,000.

Dallas Federal Reserve Manufacturing Survey  (April 2016)

– Production Index 5.8. Previous was 3.3
– General Activity Index -13.9. Previous was -13.6.

This is a survey index of manufacturing in the state of Texas.  The General Activity Index has been negative for 16 consecutive months.  This is almost entirely about oil prices.