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Economic Statistics for 10 Dec 14

The MBA reports that mortgage applications rose 7.3% last week, with purchases up 1.0% and refis up 13.0%.

Information revenue growth rose 1.0% in the 3rd Quarter of 2014. Year-on-year, information revenue rose 5.0%.

The US Treasury’s deficit fell from $-121.7 Billion in October to $-56.8 billion in November.

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One Response to Economic Statistics for 10 Dec 14

  • A measure that would for the first time allow the benefits of current retirees to be severely cut is set to be attached to a massive spending bill, part of an effort to save some of the nation’s most distressed pension plans.

    The rule would alter 40 years of federal law and could affect millions of workers, many of them part of a shrinking corps of middle-income employees in businesses such as trucking, construction and supermarkets.

    The measure is now before the House Rules Committee and is likely to be moved as an amendment to a massive $1.01 trillion spending bill, perhaps by late Wednesday. It is expected to pass the Senate by Thursday.

    If passed, the change would apply to multi-employer pensions, where a group of businesses in the same industry join forces with unions to provide pension coverage for employees. The plans cover some 10 million U.S. workers.