Weekly Economic Update: November 26-30, 2012

Dec 05 2012

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GDP growth was revised upwards to 2.7% for the 3rd quarter of 2012. Personal income was unchanged in October as personal spending fell 0.2%. New home sales declined 0.3% in October. Pending home sales rose 5.2% in October. The Case-Shiller home price index was up 3.0% in September. Durable orders were flat in October. Initial jobless claims dropped 23,000 to 393,000 for the week ended 11/24.

• GDP growth for the 3rd quarter of 2012 was revised upwards to 2.7%, from a previous estimate of 2.0%.

• Personal income was unchanged in October as personal spending fell 0.2%.

• New home sales unexpectedly edged down 0.3% to an annual pace of 368,000 units in October.

• Pending home sales increased by a greater-than-expected 5.2% in October.

• The Case-Shiller home price index was up 3.0% for the year in September, and up 0.4% for the month. The DC component of the index was up 3.2% from a year ago and up 0.1% for the month.

• Durable orders were unchanged in October. Excluding transportation, orders were up 1.5%.

• Initial jobless claims dropped 23,000 to a level of 393,000 for the week ended November 24th. Claims have declined for the past three weeks, following a sharp rise after Hurricane Sandy.

 

 

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