Key Economic Indicators – December 3, 2012

  • Real GDP increased at an annual rate of 2.7% in the third quarter of 2012, after increasing at 1.3% in the previous quarter. In the advance estimate, released a month ago, the increase in real GDP was 2.0%. The price index for gross domestic purchases increased 1.4% in the third quarter, compared to an increase of 0.7% in the previous quarter.
  • Corporate profits from current production increased $67.3 billion in the third quarter, after a decrease of $21.8 billion in the previous quarter.
  • Personal income increased less than 0.1%, in October, while personal consumption expenditures decreased 0.2%. The price index for personal consumption expenditures rose 0.1% in October.
  • New orders for manufactured durable goods increased less than 0.1% in October, while shipments decreased 0.6%.
  • October new home sales decreased 0.3% to an annualized rate of 368 thousand units. The median sales price of new houses sold was $237.7 thousand, 5.7% above the October 2011 figure.
  • U.S. House prices rose 0.2% on a seasonally adjusted basis from August to September, according to the Federal Housing Finance Agency’s (FHFA) monthly House Price Index. For the 12 months ending in September, U.S. prices rose 4.4%.
  • The S & P/Case-Shiller National U.S. Home Price Index posted annual increases of 2.1% and 3.0% in September, for the 10-city and 20-city composite indices, respectively.
  • The Pending Home Sales Index, a leading indicator for the housing sector, increased 5.2% to a reading of 104.8 in October.
  • The results of Freddie Mac’s Primary Mortgage Market Survey showed fixed mortgage rates virtually unchanged and remaining near all-time record lows. The 30-year fixed mortgage rate averaged 3.32% with an average 0.8 point for the week ending November 29, up from last week when it averaged 3.31%.
  • Mortgage applications decreased 0.9% from a week earlier, according to data from Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending November 23.
  • The advance figure for initial claims for unemployment insurance decreased by 23 thousand to 393 thousand in the week ending November 24.
  • The Conference Board’s consumer confidence index, which had increased in October, posted a moderate increase in November.
  • The FED’s “Beige Book” indicated that overall economic activity expanded at a measured pace since the last report.

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