*U.S. Import Prices Jump 0.9% In April, Export Prices Climb 0.5%

*Philly Fed Index Falls To 4.5 In May

*U.S. Housing Starts Surge 5.7% In April, Building Permits Slump 3.0%

*U.S. Initial Jobless Claims Drop To 222,000 In Week Ended 5/11

ECB Says Financial Stability Conditions Improve As Recession Risks Fade