Pending Home Sales

Initial Jobless down. GDP, Durable Goods, and Pending Home Sales Weak.

Jobs Initial Jobless Claims (week ended 9/22/2012) – Initial Claims 359,000.  Previous revised up to 385,000 – 4-week Moving Average 374,000.  Previous was 378,500. This would be good news except for the following. GDP (2ndQ2012)   – 2ndQ2012 GDP was revised downward from +1.7% to +1.3%.  There are two distinct issues:  1) what is happening