- Real GDP increased at an annual rate of 3.5% in the third quarter of 2014, according to the “advance” estimate released by the Bureau of Economic Analysis, after increasing 4.6% in the previous quarter.
- The price index for gross domestic purchases increased 1.3% in the third quarter, compared to an increase of 2.0% in the previous quarter.
- Personal income increased 0.2% in September, while personal consumption expenditures decreased 0.2%. Real disposable personal income increased less than 0.1%, while real personal consumption expenditures decreased 0.2%.
- The price index for personal consumption expenditures increased 0.1% in September, following a 0.1% decrease in the previous month. The price index (headline index) was up 1.4% from September 2013, while the core index was up 1.5%.
- New orders for manufactured durable goods decreased 1.3% in September, following an 18.3% decrease in the previous month, according to the Census Bureau. Shipments increased 0.1% in September, following a 1.8% decrease in the previous month. Year-to-date, new orders were up 7.6% from the same period a year ago, while shipments were up 5.0%
- The Pending Home Sales Index, a leading indicator for the housing sector, increased 0.3% in September, according to the National Association of Realtors. The index was up 1.0% from September 2013.
- The S & P/Case-Shiller National U.S. Home Price Indices continued to show deceleration in home price gains. The index posted an annual increase of 5.1% in August, compared with 5.6% in July. As of August 2014, average home prices are back to their levels posted in the spring of 2005.
- The results of Freddie Mac’s Primary Mortgage Market Survey of October 30th showed average fixed mortgage rates moving higher. 30-year fixed-rate mortgage averaged 3.98% for the week ending October 30, up from last week when it averaged 3.92%.
- Mortgage applications decreased 6.6% from a week earlier, according to data from Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending October 24th.
- The advance figure for initial claims for unemployment insurance increased 3 thousand to 287 thousand in the week ending October 25, according to the U.S. Department of Labor. The 4-week moving average was 281 thousand, a decrease of 0.25 thousand from the previous week’s average.
- The Employment Cost Index for total compensation rose 0.7%, seasonally adjusted, for the 3-month period ending September 2014, according to the U.S. Bureau of Labor Statistics. Compensation costs for civilian workers increased 2.2% for the 12-month period ending September 2014.
- The Conference Board’s consumer confidence index, which had decreased in September, rebounded in October. The index now stands at 94.5 (1985=100), up from 89.0 in September.
- The Thomson Reuters/University of Michigan Index of Consumer Sentiment rose in October to its highest level since July 2007. The index stands at 86.9 in October, up from 84.6 in September.
- The Federal Open Market Committee decided to keep its target for the federal funds rate at 0 to 0.25%, and indicated that it will be appropriate to maintain this rate for a considerable time following the end of its asset purchase program by this month.
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