Economic Statistics for 22 Dec 15
The final revision of 3rd Quarter GDP came in at 2.0% annualized growth, down -0.1% from the 2nd revision. The GDP Price index was unchanged at 1.3%.
Corporate profits in the 3rd Quarter were revised to $1.784 trillion, up a year-on-year 1.3%, down from the initial revision’s 1.4%.
The FHFA House Price Index rose 0.5% in October, which is up 6.1% on a year-over-year basis.
Existing home sales plunged -10.5% in November, to a much lower-than-expected annualized rate of 4.760 million. On a year-over-year basis, sales are down -3.8%.
The Richmond Fed Manufacturing Index climbed back into positive territory in December, rising from -3 to 6.
Redbook reports that last week’s retail sales rose only to 1.8% on a year-ago basis, from the previous week’s 1.5%. Sales have been consistently weak this holiday season.