Key Economic Indicators – December 1, 2014

  • Real GDP increased at an annual rate of 3.9% in the third quarter, according to the “second” estimate by the Bureau of Economic Analysis, after a 4.6% in the previous quarter. In the advance estimate, released about a month ago, the increase in real GDP was 3.5%.
  • The price index for gross domestic purchases increased 1.4% in the third quarter, compared to an increase of 2.0% in the previous quarter.
  • Corporate profits from current production increased $43.8 billion in the third quarter, after an increase of $164.1 billion in the previous quarter.
  • Personal income and personal consumption expenditures both increased 0.2% in October. The price index for personal consumption expenditures increased 0.1% in October, while the core index increased 0.2%. The price index rose 1.4% from October a year ago, while the core index rose 1.6%.
  • New orders for manufactured durable goods increased 0.4% in October, while Shipments increased 0.1%.
  • October new home sales were up 0.7% from the previous month, and were up 1.8% from October 2013 figure, according to the U.S. Census Bureau. The median sales price of new houses sold was $305.0 thousand, 15.4% above October 2013.
  • U.S. House prices rose less than 0.1% 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, house prices rose 4.3%. The index is 5.8% below its April 2007 peak and is roughly the same as the August 2005 index level..
  • The S & P/Case-Shiller National U.S. Home Price Index in September was down 0.1% from the previous month, but up 4.8% from September 2013. As of September 2014, home prices were back to their levels posted in the spring of 2005.
  • The Pending Home Sales Index, a leading indicator for the housing sector, decreased 1.1% to a reading of 104.1 in October. The index was up 2.2% from October 2013.
  • The long term mortgage rate averaged 3.97% for the week ending November 26, down from last week when it averaged 3.99%.
  • Mortgage applications decreased 4.3% from a week earlier, according to data from Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending November 21.
  • The advance figure for initial claims for unemployment insurance increased 21 thousand to 313 thousand in the week ending November 22.
  • The Conference Board’s consumer confidence index, which had rebounded in October, declined in November.
  • The Thomson Reuters/University of Michigan Index of Consumer Sentiment rose in November.

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