Archive for December, 2013

Key Economic Indicators – December 30, 2013

Friday, December 27th, 2013
  • New orders for manufactured durable goods increased 3.5% in November, while shipments increased 1.8%.
  • November new home sales decreased 2.1% to an annualized rate of 464 thousand units. The November figure was 16.6% above the November 2012 figure. The median sales price of new houses sold was up 10.6% from a year ago.
  • U.S. House prices rose 0.5% on a seasonally adjusted basis from September to October, according to the Federal Housing Finance Agency’s (FHFA) monthly House Price Index. For the 12 months ending in October, U.S. prices rose 8.2%. The index is now 8.8% below its April 2007 peak and is roughly the same as the April 2005 index level.
  • The results of Freddie Mac’s Primary Mortgage Market Survey of December 26th showed average fixed mortgage rates little changed from the previous week.
  • Mortgage applications decreased 6.3% from a week earlier, according to data from Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending December 20th.
  • The advance figure for initial claims for unemployment insurance decreased 42 thousand to 338 thousand in the week ending December 21.
  • The Thomson Reuters/University of Michigan Index of Consumer Sentiment jumped to 82.5 for December, the highest reading since July.

Key Economic Indicators – December 23, 2013

Monday, December 23rd, 2013
  • Real GDP increased at an annual rate of 4.1% in the third quarter of 2013, after increasing 2.5% in the previous quarter. Real final sales of domestic product (GDP less change in private inventories) increased 2.5%, compared with an increase of 2.1% in the previous quarter.
  • The price index for gross domestic purchases increased 1.8% in the third quarter, compared to an increase of 0.2% in the previous quarter. 
  • Corporate profits from current production increased $39.2 billion in the third quarter, after an increase of $66.8 billion in the previous quarter.
  • Personal income increased 0.2% in November, while personal consumption expenditures increased 0.5%. The price index for personal consumption expenditures held steady in November for the second consecutive month. The price index (headline index) was up 0.9% from November 2012, while the core index was up 1.1%.
  • Total Industrial production increased 1.1% in November. The rate of capacity utilization for total industry was 79.0%.
  • The current account deficit decreased to $94.8 billion in the third quarter, from $96.6 billion in the previous quarter.
  • Treasury International Capital reported net foreign purchases of long-term securities of $54.7 billion in October, compared with net purchases of $63.0 billion in the previous month.
  • Housing starts surged 22.7% in November, following a 1.8% increase in the previous month. The total number of starts was 1,091 thousand units, an increase of 29.6% from November 2012.
  • November existing home sales decreased 4.3% to an annualized rate of 4,900 thousand units, according to the National Association of Realtors. The median sales price of existing houses sold was 9.4% above November 2012.
  • The housing market index of National Association of Home Builders (NAHB) and Wells Fargo increased to 58 in December.
  • The results of Freddie Mac’s Primary Mortgage Market Survey of December 19th showed average fixed mortgage rates rising slightly from the previous week
  • Mortgage applications decreased 5.5% from a week earlier, according to data from Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending December 13th.
  • Third quarter productivity increased 3.0% (seasonally adjusted annual rate) in the non-farm business sector, following a 1.8% increase in the previous period.
  • The advance figure for initial claims for unemployment insurance increased 10 thousand to 379 thousand in the week ending December 14.
  • Real average hourly earnings for all employees rose 0.2% from October to November.
  • Regional and state unemployment rates were generally lower in November.
  • The consumer price index (headline index) held steady in November, while the core index increased 0.2%. The consumer price index increased 1.2% for the 12-month period ending in November, while the core index rose 1.7%.
  • The December 2013 Empire State Manufacturing Survey indicated that manufacturing conditions were flat for New York manufacturers.
  • The Philadelphia FED business outlook survey for December reported growth in manufacturing activity.
  • The Conference Board index of leading economic indicators increased 0.8% in November, while the coincident index increased 0.4%.
  • The Federal Open Market Committee decided to keep its target for the federal funds rate at 0 to 0.25%, and decided to modestly reduce the pace of its asset purchases.

Key Economic Indicators – December 16, 2013

Friday, December 13th, 2013
  • Advance estimates of  retail and food services sales for November were up 0.7% from the previous  month, and were up 4.7% from November 2012.
  • Total manufacturing and trade sales for October were up 0.5%, while inventories were up 0.7%.
  • Sales of merchant wholesalers in October were up 1.0%, while inventories were up 1.4%.
  • The federal government budget ran a deficit of $135.2 billion in November, after a deficit of  $91.6 billion in the previous month.
  • Domestic non-financial debt rose at a seasonally adjusted annual rate of 3.5% in the third quarter, following an increase of 3.4% in the previous quarter.
  • The producer price index for finished goods (headline index) decreased 0.1% in November, while the core index increased 0.1%. The producer price index for finished goods increased 0.7% from November 2012 to November 2013.
  • The import price index decreased 0.6% in November, while export prices increased 0.1%. The import price index decreased 1.5% from November 2012, while the price index for exports decreased 1.6%.
  • The advance figure for  initial claims for unemployment insurance increased 68 thousand to 368 thousand in the week ending December 7.
  • The results of Freddie Mac’s Primary Mortgage Market Survey of December 12th showed average fixed mortgage rates changing little from the previous week.
  • Mortgage applications increased 1.0% from a week earlier, according to data from Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending December 6th.

Key Economic Indicators – December 9, 2013

Saturday, December 7th, 2013
  • Total non-farm payroll employment rose 203 thousand in November, following an increase of 200 thousand in the previous month.
  • The unemployment rate decreased to 7.0% in November.
  • The average workweek of all employees on private nonfarm payrolls increased 0.1 to 34.5 hours. Average hourly earnings increased by 4 cents to $24.15.
  • The advance figure for initial claims for unemployment insurance decreased 23 thousand to 298 thousand in the week ending November 30.
  • Real GDP increased at an annual rate of 3.6% in the third quarter of 2013. In the advance estimate, released a month ago, the increase in real GDP was 2.8%.
  • The price index for gross domestic purchases increased 1.8% in the third quarter, compared to an increase of 0.2% in the previous quarter.
  • Corporate profits from current production increased $38.3 billion in the third quarter, after an increase of $66.8 billion in the previous quarter.
  • Personal income decreased 0.1%, in October, while personal consumption expenditures increased 0.3%.
  • The price index for personal consumption expenditures held steady in October, while the core index increased 0.1%. The price index (headline index) was up 0.7% from October 2012, while the core index was up 1.1%.
  • New orders for manufactured goods decreased 0.9% in October, while shipments increased 0.1%.
  • Sales of domestic cars increased 5.3% in November, while total light vehicle (cars and light trucks) sales increased 7.7%. Total vehicle sales were 16.3 million units in November, at a seasonally adjusted annual rate, compared to 15.3 million a year ago.
  • In October, international trade deficit was $40.6 billion, $2.4 billion less than the revised September figure.
  • Construction spending increased 0.8% in October, following a 0.3% decrease in the previous month.
  • October new home sales increased 25.4%. The median sales price of new houses sold was 0.6% below October 2012
  • The results of Freddie Mac’s Primary Mortgage Market Survey of December 5th showed average fixed mortgage rates increasing.
  • Mortgage applications decreased 12.8% from a week earlier, according to data from Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending November 29th.
  • October consumer credit outstanding increased at an annual rate of 7.1%.
  • The Institute for Supply Management’s (ISM) manufacturing survey indicated that the manufacturing sector expanded in November for the sixth consecutive month, and the overall economy grew for the 54th consecutive month.
  • In November, the Institute for Supply Management’s (ISM) non-manufacturing survey results indicated growth in the non-manufacturing business activity for the 47th consecutive month.
  • The FED’s “Beige Book” indicated that overall economic activity continued to expand at a modest to moderate pace from early October through mid-November.