It was a tough week for the the stock market, which dropped 3.54% this past week. We did however, receive great numbers on retail sales, which has rose 5.1% from a year ago. The national average for mortgage rates dropped another 12 basis points (0.12%) this week.
Last week in the economy:
- The S&P 500 started the week at 2,075 and dropped 3.54% to end the week at 2,002
- The national average for mortgage rates dropped 12 basis points (0.12%)
- Retail sales increased 0.7% in November. Sales are up 5.1% from a year ago.
- The Producer Price Index declined 0.2% in November. PPI is up 1.4% from a year ago
What's on the economic calendar for the week of December 15, 2014:
- Monday: Industrial Production will be released
- Tuesday: Housing Starts will be released
- Wednesday: The FED meets. The Consumer Price Index (CPI) will also be released.
- Thursday: Jobless claims will be released
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Our trusted source for all economic news is First Turst Portfolios out of Wheaton, IL. For greater insights on these figures check out their blog here.