Free Markets, Free People

Economic Statistics for 24-25 Nov 15

It’s a massive set of statistical releases, as the Thanksgiving holidays have compressed the week’s releases into the day before the holiday. Without further ado, therefore…

The first revision to 3rd Quarter GDP added 0.6%, coming to a 2.1% annualized rate of growth. The GDP Price Index was revised up to 1.3%.

The nation’s trade gap in goods came in at a lower-than-expected deficit of $58.4 billion in October. 

Corporate profits in the 3rd Quarter were revised to $1.786 trillion, up a year-on-year 1.4%.

Redbook reports that last week’s retail sales rose to 1.5% on a year-ago basis, from the previous week’s 1.2%, as sales weakness continues.

The S&P/Case-Schiller Home Price Index rose 0.6% in September, and is up 5.5% from the previous year.

The Conference Board’s Consumer Confidence Index sank from 97.6 to 90.4 in November, on weak confidence in the jobs market.

The Richmond Fed Manufacturing index dropped -2 points to -3 in November.

The State Street Investor Confidence Index dropped -7.5 points to 106.8 in November.

The MBA reports that mortgage applications fell -3.2% last week, with purchases down -1.0% and refis down -5.0%.

Durable goods orders rose 3.0% in October, mainly on aircraft orders coming out of the Dubai air show, but the previous several months of decline means orders are only up 0.5% from last year. Ex-transportation orders rose 0.5%, but are down -2.4% from a year ago. Core capital goods rose 1.3% and are up 0.4% from last year.

Initial weekly jobless claims fell 12,000 to 260,000. The 4-week average fell 750 to 271,000. Continuing claims rose 34,000 to 2.207 million.

Personal Income rose 0.4% in October, while spending rose 0.1%. The PCE price index rose 0.1% overall, but was unchanged, ex-food and energy. On a year-over-year basis, the PCE Price index is up 0.2% at the headline level, and 1.3% at the core.

The FHFA House Price Index for September rose 0.8%, increasing in all nine regions of the country.

The PMI Services Flash for November rose 2.1 points to 56.5.

The Bloomberg Consumer Comfort Index fell -0.3 points to 40.9 in the latest week.

Following the previous month’s -12.9% drop, new home sales in October rose 10.7% to a 495,000 annual rate.

The University of Michigan’s Consumer Sentiment Index fell -1.8 points to 91.3 for November.

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