Key Economic Indicators – January 6, 2014

  • Construction spending increased 1.0% in November, following a 0.9% decrease in the previous month. Private construction increased 2.2%, while public construction decreased 1.8%.
  • The Pending Home Sales Index, a leading indicator for the housing sector, increased 0.2% in November, according to the National Association of Realtors.
  • The S & P/Case-Shiller National U.S. Home Price Indices posted annual increases of 13.6% in the 12 months ending in October, for both 10-city and 20-city composites.
  • The results of Freddie Mac’s Primary Mortgage Market Survey of January 2nd showed average fixed mortgage rates continuing to edge higher.
  • Mortgage applications decreased 6.3% from a week earlier, according to data from Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending December 20th.
  • The advance figure for initial claims for unemployment insurance decreased 2 thousand to 339 thousand in the week ending December 28.
  • The Conference Board’s consumer confidence index, which had decreased in November, rebounded in December.
  • The Institute for Supply Management’s (ISM) manufacturing survey indicated that the manufacturing sector expanded in December for the seventh consecutive month, and the overall economy grew for the 55th consecutive month.

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