This Week in the Economy - November 3, 2014

Posted by Laine Smith on 11/3/14 6:00 AM

Topics: Economy

The most closely watched news last week was the Fed statement on Wednesday. The Fed, as expected, announced that it would be ending its purchases of treasury and Mortgage-Backed Securities later this month. The S&P 500 continued to climb as we ended the week with a 2.72% increase. 



Last week in the economy:

  • The S&P 500 started the week at 1,951 and rose 2.72%, finishing the week at 2018.
  • Personal income increased 0.2% in September. Personal income is up 4.1% in the past year
  • The Fed announced that it's treasury and mortgage-backed security (MBS) purchases will conclude at the end of this month
  • The first estimate for Q3 GDP growth was 3.5%, beating the 3.0% estimate. Real GDP is up 2.3% from a year ago. 
  • New orders for durable goods declined 1.3% in September. Orders are up 3.3% from a year ago. 


What's coming up on the economic calendar for the week of November 3, 2014:

  • ISM Manufacturing will be released on Monday
  • Jobless claims will be released on Thursday
  • The monthly employment report will be released on Friday


If you enjoyed our economic summary, you can get economic updates e-mailed to you weekly by clicking the button below:


Subscribe to Weekly Economic Updates



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.


Subscribe to Email Updates