3Q2016 GDP Up. Jobs, Manufacturing, Income Weak.

Durable Goods Orders (November 2016)

– New Orders month/month -4.6%. Previous was +4.8%
– New Orders year/year 2.1%
– Ex-transportation month/month +0.5%. Previous was +1.0%
– Ex-transportation year/year 0.3%
– Core capital goods month/month +0.9%. Previous was +0.2%
– Core capital goods year/year -4.3%

Nondefense new orders for capital goods in November decreased 19.5%

 

GDP (3rdQ2016)

– Real GDP quarter/quarter seasonally adjusted, annualized rate +3.5%. Previous was +3.2%
– GDP price index quarter/quarter seasonally adjusted, annualized rate +1.4%. Previous was +1.4%.

 

Initial Jobless Claims (week ended 12/17/2016)

– New Claims seasonally adjusted 275,000. Previous was 254,000
– New Claims unadjusted, totaled 315,613 an increase of 10,280 from previous
– 4-week Moving Average 263,750. Previous was 257,750

 

Chicago Federal Reserve National Activity Index (November 2016)

– Level -0.27. Previous was -0.05
– 3 Month Moving Average -0.14. Previous was -0.20

 

Corporate Profits (3rdQ2016)

– Profits (After-tax year/year) +4.3%. Previous was +5.2%

FHFA House Price Index (October 2016)

– month/month +0.4%. Previous was +0.6%
– year/year +6.2%. Previous was +6.1%

Price increases this high translate into less affordability. Supply is too low.

 

Personal Income and Outlays (November 2016)

– Personal Income month/month +0.0%. Previous was +0.5%
– Consumer Spending month/month +0.2%. Previous was +0.3%
– PCE Price Index month/month +0.0%. Previous was +0.2%
– Core PCE price index month/month +0.0%. Previous was +0.1%
– PCE Price Index year/year +1.4%. Previous was +1.4%
– Core PCE price index year/year +1.6%. Previous was +1.8%

 

Leading Indicators (November 2016)

– Leading Indicators month/month +0.0%. Previous was +0.1%