Key Economic Indicators – January 1, 2018

  • The international trade deficit in goods was $69.7 billion in November, up $1.6 billion from $68.1 in October, according to the U.S. Census Bureau. Exports of goods for November were $133.7 billion, up $3.8 billion from October. Imports of goods were $203.4 billion in November, up $5.4 billion from the previous month.
  • Retail inventories for November, adjusted for seasonal variations but not for price changes, were estimated at an end-of-month level of $619.1 billion, up 0.1% from the previous month, and were up 1.9% from November 2016, according to the U.S. Census Bureau.
  • Wholesale inventories for November, adjusted for seasonal variations but not for price changes, were estimated at an end-of-month level of $610.2 billion, up 0.7% from the previous month, and were up 3.8% from November 2016, according to the U.S. Census Bureau.
  • The Pending Home Sales Index, a leading indicator for the housing sector, inched up 0.2% in November, according to the National Association of Realtors. The index was up 0.8% from a year ago.
  • The S & P Corelogic Case-Shiller National U.S. Home Price Indices posted an annual increase of 6.2% for the 12 months ending in October. The 10-city composite index increased 6.0% from October 2016 to October 2017, while and 20-city composite index increased 6.4%.
  • The results of Freddie Mac’s Primary Mortgage Market Survey of December 28th showed average fixed mortgage rates continuing to inch higher. 30-year fixed-rate mortgage averaged 3.99% for the week ending December 28, up from last week when it averaged 3.94%. A year ago at this time, the 30-year fixed rate averaged 4.32%. 15-year fixed-rate mortgage averaged 3.44%, up from last week when it averaged 3.38%. A year ago at this time, the 15-year fixed rate averaged 3.55%.
  • Mortgage applications decreased 4.9% from a week earlier, according to data from Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending December 15th.
  • The advance figure for initial claims for unemployment insurance was 245 thousand in the week ending December 23, unchanged from the previous week. The 4-week moving average was 237.75 thousand, an increase of 1.75 thousand from the previous week’s average.
  • The Conference Board’s Consumer Confidence Index decreased in December, following a modest increase in November. The Index now stands at 122.1 (1985=100), down from 128.6 in November. The Present Situation Index increased from 154.9 to 156.6, while the Expectations Index declined from 111.0 to 99.1.

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