Economic Statistics for 4 Dec 13
Thanks to the government shutdown, there were two new home sales reports issued today, one for September and one for October. New home sales fell -6.6% in September to a 354,000 annual rate. New home sales rose dramatically in October, up 25.4% to a very solid 444,000 annual rate.
The US trade deficit narrowed by $1.2 billion in October, to $-40.6 billion, mainly on a 1.8% rebound in exports.
The Fed’s Beige Book report on the economy concludes that "the economy continued to expand at a modest to moderate pace from early October through mid-November." So, basically, below-trend economic growth continues.
The ISM Non-Manufacturing Index fell -1.5 points to 53.9 in November.
MBA Mortgage Applications fell -12.8% last week, with purchases down -4.0% and re-fis down -18.0%.
ADP reports that private payroll growth was higher than expected in November, with an estimated 215,000 net new jobs.
Gallup’s Job Creation Index rose 1 point to 20 in November.