Economic Statistics for 16 Dec 15
The Federal Open Markets Committee raised the Fed Funds rate target to 0.25%-0.5%, and the Discount Rate to 1.0%. This is the first interest rate increase in over eight years.
The Fed’s forecast for inflation and economic growth was released today. Subpar growth remains for as far as can be foreseen.
November housing starts rose 10.5% to a 1.173 million annual rate, while building permits rose 11.0% to a 1.289 million annual rate.
Industrial production fell -0.6% in November, while capacity utilization in the nation’s factories fell -0.5% to 77.0%.
The PMI Manufacturing Index Flash fell -0.9 points to 51.3 in November.
The MBA reports that mortgage applications fell -1.1% last week, with purchases down -3.0% and refis up 1.0%.