U.S. Economic Radar – December 20, 2013

Radar 600x334 U.S. Economic Radar   December 20, 2013

Recap of this week’s U.S. economic events:

  1. The Federal Reserve tapered its quantitative easing program by $10 billion per month.
  2. Real gross domestic product in the third quarter was revised up to an annual rate of 4.14%, its highest since the fourth quarter of 2011.
  3. The consumer price index was flat in November. It is up 1.2% year over year.
  4. Nonfarm business sector labor productivity increased at an annual rate of 3.0% during the third quarter. Unit labor costs in nonfarm businesses decreased at an annual rate of 1.4%.
  5. Industrial production increased 1.1% in November.
  6. Existing home sales declined to an annual rate of 4.9 million in November.
  7. Housing starts jumped to an annual rate of 1.091 million in November.
  8. The New York Fed’s manufacturing survey moved into expansion at +0.98 in December.
  9. The Philly Fed’s manufacturing survey moved further into expansion in December to +7.0.
  10. The Kansas City Fed’s manufacturing survey moved into contraction in December, decreasing to -3.
  11. In November, the unemployment rate had decreased year over year in 42 states.
  12. Weekly intermodal rail traffic was up 6.4% year over year.
  13. Weekly initial jobless claims were 379k.
  14. The weekly National Financial Conditions Index remained loose at -0.94.
  15. Promotions are leading store sales into Christmas.
  16. M2 increased 0.16% week over week.

Further U.S. economy reading this week:

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