- Real GDP decreased at an annual rate of 0.1% in the fourth quarter of 2012, according to the “advance” estimate released by the Bureau of Economic Analysis, after increasing at 3.1% in the previous quarter.
- Personal income increased 2.6%, in December, while personal consumption expenditures increased 0.2%. The price index for personal consumption expenditures held steady in December, following a 0.2% decrease in the previous month.
- Total non-farm payroll employment rose 157 thousand to 134.825 million in January, following an increase of 196 thousand in the previous month. Private-sector payrolls increased by 166 thousand in the month, while government employment decreased by 9 thousand.
- The unemployment rate increased to 7.9% in January, from 7.8% in December of 2012.
- The advance figure for initial claims for unemployment insurance increased 38 thousand to 368 thousand in the week ending January 26.
- The Employment Cost Index for total compensation rose 0.5%, seasonally adjusted, for the 3-month period ending December 2012, following a 0.4% increase for the 3–month period ending September 2012.
- New orders for manufactured durable goods increased 4.6% in December, while Shipments increased 1.3%.
- December construction spending was up 0.9% from November, and was up 7.8% from December 2011.
- The Pending Home Sales Index, a leading indicator for the housing sector, decreased 4.3% to a reading of 101.7 in December, according to the National Association of Realtors.
- The S & P/Case-Shiller National U.S. Home Price Index posted annual increases of 4.5% and 5.5% in November, for the 10-city and 20-city composite indices, respectively.
- The results of Freddie Mac’s Primary Mortgage Market Survey showed fixed mortgage rates continuing to trend higher. The 30-year fixed mortgage rate averaged 3.53% with an average 0.7 point for the week ending January 31, up from last week when it averaged 3.42%.
- Mortgage applications decreased 8.1% from a week earlier week, according to data from Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending January 25th.
- The Institute for Supply Management’s (ISM) manufacturing survey indicated that the manufacturing sector expanded in January for the second consecutive month, and the overall economy grew for the 44th consecutive month.
- The Conference Board’s consumer confidence index, which had declined in December, fell further in January.
- The Federal Open Market Committee decided to keep its target for the federal funds rate at 0 to 0.25%.
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