- Real GDP increased at an annual rate of 3.2% in the third quarter of 2016, after increasing 1.4% in the previous quarter, according to the “second” estimate released by the Bureau of Economic Analysis. In the advance estimate, released about a month ago, the increase in real GDP was 2.9%.
- Real gross domestic income (GDI) increased 5.2% in the third quarter, following a 0.7% increase in the previous quarter. The average of real GDP and real GDI increased 4.2% in the third quarter, compared with an increase of 1.1% in the second quarter.
- Real final sales of domestic product increased 2.7%, following a 2.6% increase in the previous quarter.
- The price index for gross domestic purchases increased 1.5% in the third quarter, compared to an increase of 2.1% in the previous quarter.
- Corporate profits from current production increased $133.8 billion in the third quarter, after a decrease of $12.5 billion in the previous quarter.
- Personal income increased 0.6% in October, following a 0.4% increase in the previous month. Personal consumption expenditures, which increased 0.7% in September, increased 0.3% in October. The price index for personal consumption expenditures increased 0.2% in October, while the core index increased 0.1%. The price index (headline index) was up 1.4% from October 2015, while the core index was up 1.7%.
- Sales of domestic cars increased 2.5% in November, while total light vehicle (cars and light trucks) sales decreased 0.9%. Total light vehicle sales were 18.1 million units in November, at a seasonally adjusted annual rate, compared to 18.6 million in October of 2015.
- Total non-farm payroll employment increased by 178 thousand in November, following an increase of 142 thousand in the previous month. Private-sector payrolls increased 156 thousand in the month, while government employment increased 22 thousand.
- The unemployment rate declined to 4.6% in November, from 4.9% in October.
- The average workweek held steady at 34.4 hours. Average hourly earnings decreased by 3 cents to $25.89. Over the past 12 months, average hourly earnings were up 2.5%.
- The Institute for Supply Management’s (ISM) manufacturing survey indicated that the manufacturing sector expanded in November, while the overall economy grew for the 90th consecutive month.
- The FED’s “Beige Book” indicated that economic activity continued to expand across most regions from early October through mid-November.
- The Conference Board Consumer Confidence Index, which had declined in October, increased significantly in November to 107.1.
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