ICSC-Goldman reports weekly retail sales rose 3.0%, but fell to a weak 1.1% on a year-over-year basis. Conversely, Redbook reports retail sales rose 4.2% on a year-ago basis.
Housing starts fell -1.6% in November, erasing most of October’s 1.7% increase, as starts fell to a 1.028 million annual rate. Similarly, building permits, an indicator of future activity, slipped -5.2%, following a 5.9% jump in October.
The Markit PMI manufacturing index flash for December fell -1.0 points to 53.7.
The Empire State manufacturing index for December fell more than 13 points to -3.58, the first negative reading since January, 2013.
November industrial production rose 1.3%, while capacity utilization in the nation’s factories rose 0.9% to 80.1%.
The Housing Market Index fell 1 point in December, to a still-solid 57.
Foreign demand for long-term US securities fell slightly in October, down $-1.4 billion, following September’s $164.3 billion gain.
Producer Prices for Final Demand fell -0.2% in November, while prices less food and gas were unchanged. Goods prices fell -0.7% while prices for services rose 0.1%. PPI-FD less food, energy & trade services was also unchanged. The decline in goods prices was led mainly by falling energy prices. On a year-over-year basis, the PPI-FD rose 1.4%, while prices less food and energy rose 1.7% and prices less food, energy & trade services rose 1.6%. Goods prices are up 0.4% and services prices rose 1.9%.
The Reuters/University of Michigan’s consumer sentiment index jumped a full 5 points to 93.8 in December.
November retail sales were stronger than expected, rising 0.7% overall, 0.5% less gas, and 0.6% less gas and autos.
Export prices fell -1.0% in November, while import prices fell -1.5%. On a year-over-year basis, export prices are down -1.9% while import prices are down -2.3%.
Business inventories rose 0.2% in October, while business sales fell -0.1%. The stock-to-sales ratio was unchanged at 1.30.
Initial weekly jobless claims fell 3,000 to 294,000. The 4-week average rose 250 to 299,250. Continuing claims rose 142,000 to 2.514 million.
The Bloomberg Consumer Comfort Index rose points to a seven-year high of 41.3 in the latest week.
The Fed’s balance sheet rose $2.7 billion last week, with total assets of $4.489 trillion. Reserve bank credit rose $1.8 billion.
The Fed reports that M2 money supply rose by $35.6 billion in the latest week.
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.
The NFIB’s small business optimism index jumped 2.0 points in November to 98.1, the highest since February 2007.
Wholesale inventories rose 0.4% in October, while a 0.2% rise in sales left the stock-to-sales ratio unchanged for a third month at 1.19.
ICSC-Goldman reports weekly chain store sales fell -1.5%, and rose a weak 2.9% on a year-over-year basis. Redbook also reports retail sales were weak, up only 3.9% on a year-ago basis, down -0.9% from last week.
The Labor Department reports that 321,000 net new jobs were created in November, while the unemployment rate was unchanged at 5.8%. Average weekly hours rose 0.1 hours to 34.6, while average hourly earnings rose 9 cents to $24.66. The labor force participation rate was unchanged at 62.8%. The real rate of unemployment, using the pre-crisis historical average participation rate of 66.2%, rose 0.06% to 10.59%.
In October, the US trade gap narrowed very slightly to $-43.4 billion from a revised $-43.6 billion in September.
Factory orders fell a further -0.7% in October, following September’s -0.5% decline.
Consumer credit rose $13.2 billion in October, mainly on a $12.3 billion rise in non-revolving credit, which disappoints retailers.
Chain stores are reporting monthly sales today, showing mostly stronger rates of year-on-year sales growth in November than October.
Challenger’s Job Cut Report shows that the layoff count fell to 35,940 in November from 51,183 in October and 45,314 in November last year.
Gallup’s November Payroll to Population employment rate was 44.2%, down two ticks from October’s rate of 44.4%.
Initial weekly jobless claims fell 17,000 to 297,000. The 4-week average rose 5,000 to 299,000. Continuing claims rose 39,000 to 2.362 million.
The Bloomberg Consumer Comfort Index fell -0.9 points to 39.8 in the latest week, still close to a seven-year high.
The Fed’s balance sheet rose $0.3 billion last week, with total assets of 4.486 trillion. Reserve bank credit fell $-7.6 billion.
The Fed reports that M2 money supply rose by $3.5 billion in the latest week.
The Fed’s Beige book reports that national economic activity—including employment—continues to expand, with wages and prices restrained.
Nonfarm productivity growth for the 3rd Qtr was revised up to an annualized 2.3%, while Unit labor costs were revised down sharply to -1.0%.
ADP estimates that private payroll growth for November was a worse-than-expected 208,000.
The MBA reports that mortgage applications fell -7.3% last week, with purchases up 3.0% but refis down -13.0%.
Gallup’s U.S. Job Creation Index ticked up a point in November to 28.
The ISM non-manufacturing index rose 2.2 points to 59.3 in November.
Markit’s PMI Services Index fell -0.9 points in November to 56.2.
The J.P. Morgan Global Composite PMI fell -0.4 points to 53.2 in November, while the Global Services PMI fell -0.2 points to 53.5.