Key Economic Indicators – December 9, 2013

  • Total non-farm payroll employment rose 203 thousand in November, following an increase of 200 thousand in the previous month.
  • The unemployment rate decreased to 7.0% in November.
  • The average workweek of all employees on private nonfarm payrolls increased 0.1 to 34.5 hours. Average hourly earnings increased by 4 cents to $24.15.
  • The advance figure for initial claims for unemployment insurance decreased 23 thousand to 298 thousand in the week ending November 30.
  • Real GDP increased at an annual rate of 3.6% in the third quarter of 2013. In the advance estimate, released a month ago, the increase in real GDP was 2.8%.
  • The price index for gross domestic purchases increased 1.8% in the third quarter, compared to an increase of 0.2% in the previous quarter.
  • Corporate profits from current production increased $38.3 billion in the third quarter, after an increase of $66.8 billion in the previous quarter.
  • Personal income decreased 0.1%, in October, while personal consumption expenditures increased 0.3%.
  • The price index for personal consumption expenditures held steady in October, while the core index increased 0.1%. The price index (headline index) was up 0.7% from October 2012, while the core index was up 1.1%.
  • New orders for manufactured goods decreased 0.9% in October, while shipments increased 0.1%.
  • Sales of domestic cars increased 5.3% in November, while total light vehicle (cars and light trucks) sales increased 7.7%. Total vehicle sales were 16.3 million units in November, at a seasonally adjusted annual rate, compared to 15.3 million a year ago.
  • In October, international trade deficit was $40.6 billion, $2.4 billion less than the revised September figure.
  • Construction spending increased 0.8% in October, following a 0.3% decrease in the previous month.
  • October new home sales increased 25.4%. The median sales price of new houses sold was 0.6% below October 2012
  • The results of Freddie Mac’s Primary Mortgage Market Survey of December 5th showed average fixed mortgage rates increasing.
  • Mortgage applications decreased 12.8% from a week earlier, according to data from Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending November 29th.
  • October consumer credit outstanding increased at an annual rate of 7.1%.
  • The Institute for Supply Management’s (ISM) manufacturing survey indicated that the manufacturing sector expanded in November for the sixth consecutive month, and the overall economy grew for the 54th consecutive month.
  • In November, the Institute for Supply Management’s (ISM) non-manufacturing survey results indicated growth in the non-manufacturing business activity for the 47th consecutive month.
  • The FED’s “Beige Book” indicated that overall economic activity continued to expand at a modest to moderate pace from early October through mid-November.

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