Crude Inventories Grow
Dec 30, 7:39 AM EST |
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| Oil prices advanced Thursday after the U.S. government released data showing a significant drop in domestic gasoline inventories. |
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| The Department of Energy announced the supply of gasoline declined by 1.2-million barrels last week to 202.9-million barrels. It also announced that commercial inventories of crude oil grew by 100,000 barrels last week to 322.6-million barrels, or 13 % above year ago levels, and that appeared to temper oil''''''''''''''''s rise. |
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November Existing Homes Sales Fall
Dec 30, 6:59 AM EST |
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| Sales of existing U.S. homes dropped 1.7 % in November to a 6.97 million unit rate. |
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| November sales rate compared with an unrevised 7.09 million unit pace in October and marked the first time the pace of sales has dropped below 7 million units since March, the National Association of Realtors announced. The existing homes figure includes both single-family homes and condominiums. Analysts had anticipated overall sales to fall to a 7.00 million unit pace in November. |
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Jobless Claims Advance to 322,000
Dec 29, 8:48 AM EST |
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| First-time applications for state unemployment benefits rose by 3,000 to a seasonally adjusted 322,000 in the week ending Dec. 24. |
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| The Labor Department announced that the four-week average of new claims remained unchanged at 325,000, about 10,000 more than the level prevailing just before devastating hurricanes struck the Gulf Coast in August and September. The largest increases in initial claims for the week ending December 10 were in New York, while the largest decreases were in Illinois. |
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Consumer Confidence Improves in December
Dec 29, 6:28 AM EST |
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| The consumer confidence index improved to 103.6 in December from a revised 98.3 in November. |
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| The index was 105.5 in August, just before Katrina hit, sending energy prices up.The December mark was close to the 103.1 anticipated by analysts. They also stated that the index was in line with healthy job growth and a rebound in consumer spending. Although the cooling U.S. housing sector is going to be a major obstacle in consumer spending as 2006 unfolds, consumers are starting the year in an upbeat mood, buoyed by solid labor markets. |
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New-Home Sales Fall in November
Dec 27, 6:42 AM EST |
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| Sales of newly constructed homes in the United States dropped 11.3% in November. |
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| The Commerce Department stated, that after soaring to a record in October, sales dropped to a seasonally adjusted 1.245 million units from October''''s 1.404 million pace, originally reported as 1.42 million. Sales jumped 11.4% in October. |
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November Durable Orders Jump 4.4%
Dec 23, 8:51 AM EST |
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| New orders for U.S.-made durable goods rose 4.4% in November to a record high level of $223 billion. |
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| The gain in overall November orders was much bigger than expected. Analysts were anticipating orders to advance 1.5%. This is the second straight large rise in headline durable goods orders. Orders increased a revised 3% in October, a bit down from the initial estimate of a 3.7% gain. |
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Leading Indicators Rise 0.5% in November
Dec 23, 6:27 AM EST |
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| The index of leading economic indicators advanced 0.5% in November, its second straight strong monthly gain. |
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| The index advanced a revised 1.0% in October, the largest increase since June. This was slightly higher than the initial estimate of a 0.9% gain posted last month. Overall, the increase is a sign of much better growth in the first quarter after a soft fourth quarter. The coincident index advanced 0.2%, while the lagging index increased 0.6%. |
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Jobless Claims Drop to 318,000
Dec 22, 9:18 AM EST |
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| First-time applications for state unemployment benefits dropped by 13,000 to a seasonally adjusted 318,000. |
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| The Labor Department announced that initial claims filed in the previous week were revised higher by 2,000 to 331,000. Analysts were anticipating jobless claims to dip to 326,000. The largest increases in initial claims for the week ending December 10 were in Illinois, while the largest decreases were in North Carolina. |
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Spending and Income Rise 0.3% in November
Dec 22, 9:11 AM EST |
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| U.S. consumer spending advanced 0.3% in November, matching a 0.3% gain in incomes. |
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| The Commerce Department announced that headline inflation dropped by a record amount and core inflation measures rose slightly in the month. Core inflation is up 1.8% in the past 12 months, the smallest gain since March 2004. Analysts were anticipating incomes to advance 0.4% in November, with spending up 0.3%. The personal savings rate remained steady at -0.2% from October. The October level was revised up from the initial estimate of -0.7%. |
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Third-Quarter GDP Revised Lower To 4.1%
Dec 21, 4:53 PM EST |
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| Third quarter economic growth was revised to 4.1% from the initial estimate of a 4.3%. |
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| The revision was not foreseen. Analysts had been forecasting third-quarter GDP to remain unrevised at a 4.3% rate. As in the previous estimates of third quarter gross domestic product, the acceleration of growth in the quarter was owing to higher consumer and government spending. |
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