Factory Orders increased by 1.1%, $3.9 billion, to $365.3 billion in November, better than the expected 0.5% increase, following a 0.8% increase in October, revised upwards from a reported 0.6% increase. Factory Orders are up 7 of the past 8 months although are down 19.8% over the past 12 months. Excluding transportation, Factory Orders increased by 1.9%.
The Pending Home Sales Index plummeted 16% in November to an index value of 96.0 following 3.9% increase in October. Despite the significant decrease of the index over the past month, the index is still up by 15% over the past 12 months. The chief economist of the NAR expects notable gains in sales come spring time when the tax credit expires on April 30th.
Upcoming Releases
ISM Services Index (01/06 at 10:00 AM EST)
Crude Inventories (01/06 at 10:30 AM EST)
Initial Claims (01/07 at 8:30 AM EST)
Unemployment Rate (01/08 at 8:30 AM EST)
