Free Markets, Free People

Economic Statistics for 3 Dec 14

The Fed’s Beige book reports that national economic activity—including employment—continues to expand, with wages and prices restrained.

Nonfarm productivity growth for the 3rd Qtr was revised up to an annualized 2.3%, while Unit labor costs were revised down sharply to -1.0%.

ADP estimates that private payroll growth for November was a worse-than-expected 208,000.

The MBA reports that mortgage applications fell -7.3% last week, with purchases up 3.0% but refis down -13.0%.

Gallup’s U.S. Job Creation Index ticked up a point in November to 28.

The ISM non-manufacturing index rose 2.2 points to 59.3 in November.

Markit’s PMI Services Index fell -0.9 points in November to 56.2.

The J.P. Morgan Global Composite PMI fell -0.4 points to 53.2 in November, while the Global Services PMI fell -0.2 points to 53.5.

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