Economic Statistics for 2 Dec 14
Motor vehicle sales for November were strong, up 4.2% to a 17.2 million annual rate, well over the high end of analyst’s forecasts. Domestic vehicle units also tapped expectations, coming in at a 14.0 million annual rate.
Construction spending rose a strong 1.1% in October, led by a 2.3% rise in public outlays, and a 1.3% increase in private residential spending.
ICSC-Goldman reports weekly retail sales fell -1.8%, but rose 2.8% on a year-over-year basis. Redbook reports retail sales rose 4.8% on a year-ago basis. Both reports are actually positive, and point to strength for December sales.
Gallup’s U.S. Economic Confidence Index climbed 4 points to -8 in November, the highest reading in 18 months.