Economy in Brief

Initial unemployment insurance claims during the week ended December 20 fell to 280,000 (-17.4% y/y) after declining to an unrevised 289,000 in the prior week. It was the lowest level of claims in seven weeks. The four-week moving [...]

GDP growth last quarter was revised sharply higher to 5.0%, up from last month's estimate of 3.9% growth. The rise was the strongest since Q3 2003. Strengthened growth in final demand accounted for the revision. The gain exceeded the [...]

Gasoline prices remained on their downward trajectory last week, falling to an average $2.40 (-26.5% y/y), the lowest level since May 2009. Prices have fallen from $3.69 per gallon averaged this past June and from $3.91 in May, 2011. [...]

The U.S. House Price Index from the Federal Housing and Finance Agency (FHFA) increased 0.6% in October (4.5% y/y) following an unrevised no-change during September. The increase left three-month growth at 4.5%, about where it's been [...]

Personal income rose 0.4% in November (4.2% y/y) after October's 0.3%, revised modestly from 0.2%. The November increase was slightly below expectations in the Action Economics Forecast Survey for a 0.5% gain. Wages & salaries were up [...]

New home sales during November declined 1.6% to 438,000 (-1.6% y/y) from 445,000 in October, initially reported as 458,000. The latest figure matched expectations in the Action Economics Forecast Survey. These volume numbers are [...]

GDP growth last quarter was revised sharply higher to 5.0%, up from last month's estimate of 3.9% growth. The rise was the strongest since Q3 2003. Strengthened growth in final demand accounted for the revision. The gain exceeded the [...]

New orders for durable goods fell 0.7% in November (+0.3% y/y) after rising 0.3% in October, which was marginally revised from 0.4%. The November decline confounded expectations for a 3.0% gain in the Action Economics Forecast Survey. [...]