U.S. Economic News
December 22, 2017
U.S. Economic Indicators
Real disposable personal income inched up 0.1% in November while real personal consumption expenditures (PCE) rose 0.4%. The PCE price index edged up 0.2% (up 1.8% Y/Y) and the core price index rose 0.1% (up 1.5% Y/Y). BEA Report
New home sales jumped 17.5% to a seasonally adjusted annual pace of 733,000 in November, and are 26.6% above the November 2016 rate. The median sales price jumped to $318,700 and the inventory of new homes dropped to 4.6 months at the current sales rate. Census Bureau Report
New orders of manufactured durable goods rose 1.3% in November after decreasing 0.4% (revised) in October, and are up 5.4% year-over-year. Excluding transportation, new orders edged down 0.1% (up 6.2% Y/Y). Census Bureau Report
The University of Michigan Consumer Sentiment Index fell 2.6 points to 95.9 in the final December reading, and is down 2.3 points on the year. The Index of Consumer Expectations dropped to 84.3, and the Current Economic Conditions Index inched up to 113.8. Report