GDP was the biggest highlight last week when the annual growth rate was revised up to 3.9%. There was little movement with the stock and mortgage markets. In housing, we recieved encouraging news with new single family homes sales rising 1.8% from a year ago.
Last week in the economy:
- The S&P 500 started the week at 2,064 and climbed 0.22% to end the week at 2,068.
- Personal Income increased 0.2% in October. Personal income is up 3.6% for the year.
- New single family homes rose 0.7% in October. Sales are up 1.8% from a year ago.
- New orders for durable goods rose 0.4% in October. Orders are up 5.5% from a year ago.
- Real GDP was revised to a 3.9% annual growth rate in Q3 from a prior estimate of 3.5%
What's on the economic calendar for the week of December 1, 2014:
- Monday: ISM manufacturing index
- Thursday: Jobless claims
- Friday: Employment Situation and International Trade
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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.