Good news on the economic front for the first quarter of 2013 was clouded with mixed results on housing sales and disappointing data from the durable goods sector. The markets have fared well over the past month or so. For the week ending April 26, the Standard & Poor’s 500 index rose to 1,582 – for a year-to-date total return of about 11.6 percent. The annual rate of GDP (a broad means of measuring the goods and services produced by the United States and a measure of the nation’s economic growth) was up 2.5 percent (annualized) in the first quarter. Government economists noted that the results were provisional and as yet incomplete.
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