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Existing Home Sales Strengthen In December
As was the case with the recent data on housing starts, sales of existing homes also picked up in December. Specifically, in spite of low inventory levels, existing home sales rebounded last month and climbed back above the five million annual pace for the sixth time in the past seven months. Read more
Housing Starts Rise In December, But Building Permits Ease Slightly
Housing starts moved higher in December, in a pleasant surprise, coming in at a seasonally adjusted annualized rate of 1,089,000 homes. That was ahead of the November pace of 1,043,000 homes and expectations of 1,040,000 units. Read more
Industrial Production Softens Slightly In December
The government has released yet one more lackluster economic metric, with the latest data showing a 0.1% decline in industrial production during December. Further, that slight easing followed a formidable increase of 1.3% in November, a flat showing in October, and a strong 0.9% increase in September. Read more
Retail Spending Tumbles In December
The economy, which has been proceeding quite well for months now, and appeared headed for a decent conclusion to the just-completed year, sustained a rare jolt last month on the consumer side. On point, data just released showed that retail sales had fallen rather sharply in December, dropping by a much greater-than-expected 0.9%. Read more
Another Strong Employment Report Has Been Released
Just when it looked as though the economy might be starting to struggle a little, as recent housing data have been underwhelming and issuances over the past week on manufacturing and non-manufacturing activity have been wanting, the Labor Department has come out with a report showing somewhat better-than-expected job growth and a further decline in the unemployment rate. Read more
Non-Manufacturing Activity Slows Its Advance In December
The Institute for Supply Management earlier this morning reported that non-manufacturing activity had advanced in December, gaining ground for the 59th month in a row. However, the pace of that improvement in the services sector had moderated some from the month before. Read more
Manufacturing Stumbles A Bit In December, But Still Rises
The Institute for Supply Management reported earlier this morning that its closely tracked manufacturing index came in at 55.5 for December. Now, that was still comfortably above the breakeven line of 50.0 that separates an expanding industrial sector from one that is contracting, but it was still below the 58.7 reading secured for November, as well as expectations for a more modest slowing in growth. Read more
Consumer Confidence Strengthens In December 2014
The Conference Board's Consumer Confidence Index perked up nicely in December, rising from an upwardly revised 91.0 tally last month to a 92.6 reading in the latest period. Read more
New Home Sales Fell Modestly In November
At 10:00 A.M. (EST), we received the latest report on the housing market when the U.S. Department of Commerce issued new residential data for the month of November. The report made for a modestly disappointing reading, as new home sales fell both on a sequential and year-over-year basis. Read more
GDP Surges In Revision, To An 11-Year High; But Durable Goods Ease
The U.S. Commerce Department has just issued a stunning report, in which the nation's gross domestic product, initially estimated to have risen by 3.5% for the third quarter, then revised upward a month ago to show a gain of 3.9%, has been revised higher yet one more time, to affirm an increase of 5.0%. Consensus estimates had the upward revision being much less strong, at 4.3%. This put the third-quarter GDP rise ahead of even the vigorous second-quarter gain of 4.6%. Importantly, this was the best quarterly showing by the nation's economy since the third quarter of 2003--eleven years ago. Read more
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