Factory orders rose 1.8% in November to a seasonally adjusted $459.2 billion, following a revised 0.2% decrease in October. Excluding the volatile transportation sector, orders rose 0.3% in November.
Retail sales rose 1.2% for the week ending December 31, according to the ICSC-Goldman Sachs index. On a year-over-year basis, retailers saw sales increase 5.3%.
The Institute for Supply Management reported that the monthly composite index of manufacturing activity rose to 53.9 in December after a reading of 52.7 in November. A reading above 50 signals expansion. It was the 29th straight month of expansion.
Total construction spending rose 1.2% to $807.1 billion in November, following a 0.2% decrease in October. Economists had anticipated an increase of 0.5% in November. Compared to a year ago, construction spending rose 0.5%.
The Mortgage Bankers Association said its seasonally adjusted composite index of mortgage applications for the week ending December 30 fell 3.7%. Refinancing applications decreased 1.9%. Purchase volume fell 9.7%.
The Institute for Supply Management reported that the monthly composite index of non-manufacturing activity rose to 52.6 in December from 52 in November. A reading above 50 signals expansion. It was the 25th straight month of expansion in the services sector.
Initial claims for unemployment benefits fell by 15,000 to 372,000 for the week ending December 31. Continuing claims for the week ending December 24 fell by 22,000 to 3.595 million. The monthly unemployment rate fell to 8.5% in December from a revised 8.7% in November and 9% in October.
from Prospect Mortgage Economic Update
Retail sales fell 0.7% for the week ending September 3, according to the ICSC-Goldman Sachs index. On a year-over-year basis, retailers saw sales increase 2.7%.
The Mortgage Bankers Association said its seasonally adjusted composite index of mortgage applications for the week ending September 2 fell 4.9%. Refinancing applications decreased 6.3%. Purchase volume rose 0.2%.
The trade deficit decreased to $44.8 billion in July from a revised $51.6 billion in June. Exports rose 3.6% to $178 billion. Imports decreased 0.2% to $222.8 billion.
According to the Federal Reserve, consumer credit debt rose in July by $12 billion for a total credit level of $2.45 trillion. Revolving debt, which includes credit cards, fell by $3.4 billion. Non-revolving debt, including loans for cars, rose by $15.4 billion.
Initial claims for unemployment benefits rose by 2,000 to 414,000 for the week ending September 3. Continuing claims for the week ending August 27 fell by 30,000 to 3.7 million.
From Prospect Mortgage Economic Update
Retail sales fell 1% for the week ending August 20, according to the ICSC-Goldman Sachs index. On a year-over-year basis, retailers saw sales increase 3%.
New home sales fell 0.7% in July to a seasonally adjusted annual rate of 298,000 units from a downwardly revised rate of 300,000 units in June.
The Mortgage Bankers Association said its seasonally adjusted composite index of mortgage applications for the week ending August 19 fell 2.4%. Refinancing applications decreased 1.7%. Purchase volume fell 5.7%.
Initial claims for unemployment benefits rose by 5,000 to 417,000 for the week ending August 20. Continuing claims for the week ending August 13 fell by 80,000 to 3.64 million, the lowest level since September 2008.
From Prospect Mortgage
The Mortgage Bankers Association said its seasonally adjusted composite index of mortgage applications for the week ending July 1 fell 5.2%. Refinancing applications decreased 9.2%. Purchase volume rose 4.8%.
Retail sales rose 1.5% for the week ending July 2, according to the ICSC-Goldman Sachs index. On a year-over-year basis, retailers saw sales increase 3.5%.
According to the Federal Reserve, consumer credit debt rose in May by $5.1 billion for a total credit level of $2.43 trillion. Revolving debt, which includes credit cards, rose by $3.4 billion. Non-revolving debt, including loans for cars, rose by $1.7 billion.
Initial claims for unemployment benefits fell by 14,000 to 418,000 for the week ending July 2. Continuing claims for the week ending June 25 fell by 43,000 to 3.7 million. The monthly unemployment rate rose to 9.2% in June from 9.1% in May.
Adapted from Prospect Mortgage Article by Jeremy Daugherty
