Initial Claims decreased to 420,000, for the week ending 12/18, against the expected decrease to 415,000, after remaining unchanged at 423,000, the revised level for the previous week. The 4-week moving average increased to 426,000 from the previous week’s revised average of 423,500. Seasonally adjusted insured unemployment from the prior week, ending on 12/11, was 4,064,000, a decrease of 103,000 from the preceding week’s revised level of 4,167,000. Seasonally adjusted insured unemployment rate from the week ending on 12/11, was 3.2%, a decrease of 0.1% from the previous week’s unrevised figure of 3.3%.
Personal Income increased 0.3%, by $42.3 billion in November to $12,700.7 billion seasonally adjusted at annual rates, higher than the expected 0.2% increase, after increasing by 0.4% in October. Net of taxes Disposable Personal Income alsoincreased 0.3%, by $37.8 billion, to $11,501.6, after increasing by 0.3% in October. Personal Consumption Expenditures increased by $43.3 billion, or 0.4%, lower than the expected 0.5% increase, after increasing by 0.7% in October. With the rate of spending exceeding the rate of income growth, the Personal Savings Rate decreased to 5.3% of disposable income, after decreasing to 5.4% in October, originally reported at 5.7%.
Durable Orders decreased by 1.3% or $2.6 billion, during November to $193.7 billion, against the expected 0.6% decrease. This decrease, down two of the last three months, followed a 5.0% increase in September. It was the highest such decline since demand fell 8% in January 2009. This decrease, down three of the last four months, followed a 3.1% October decrease. Excluding transportation, new orders increased 2.4%. Excluding defense, new orders decreased 2.3%. Transportation equipment, also down three of the last four months, had the largest decrease, $6.2 billion or 11.9% to $45.5 billion. This was due to nondefense aircraft and parts, which decreased $6.6 billion.
New Home Sales for November are expected today at 10:00 AM EST to increase to a 300,000 annual pace, after increasing to an annual pace of 283,000 homes in October with a median sales price of $194,900 and an average sales price of s $248,200.
Upcoming Releases
New Home Sales (12/23 at 10:00 AM EST)
Consumer Confidence (12/28 at 10:00 AM EST)
Crude Inventories (12/29 at 10:30 AM EST)
Initial Claims (12/30 at 8:30 AM EST)
