Breakfast briefing: World economy muddles through uninspiring patch

But first, US jobless claims were in fact little-changed from the prior week, although seasonal adjustment generated a higher number. There are now just under 1.8 mln people on these benefits but that is up from 1.5 mln a year ago. US existing home sales in March dipped from February to an annual rate of 4.44 mln when a 4.5 mln rate was expected. It hardly changed from February to March and is now only +4.9% ahead in nominal terms from a year ago. Bulk cargo freight rates were little-changed last week, still running at their long term average levels, levels we first saw in 1988!