US Economic News

After reporting a notable pullback in U.S. pending home sales in the previous month, the National Association of Realtors released a report on Monday showing pending home sales rebounded by much more than expected in the month of October.

Reflecting concerns about the pace of inflation, the minutes of the Federal Reserve's monetary policy meeting in early November revealed some participants felt the central bank should be prepared to raise interest rates sooner than currently anticipated.

The University of Michigan released a report on Wednesday showing consumer sentiment in the U.S. decreased by slightly less than initially estimated in the month of November. The report said the consumer sentiment index for November was upwardly revised to 67.4 from the preliminary reading of 66.8. Economists had expected the index to be upwardly revised to 66.9.

After reporting a sharp increase in U.S. new home sales in the previous month, the Commerce Department released a report on Wednesday showing new home sales saw continued growth in the month of October. The report said new home sales rose by 0.4 percent to an annual rate of 745,000 in October after spiking 7.1 percent to a downwardly revised rate of 742,000 in September.

Personal income in the U.S. rebounded by more than expected in the month of October, according to a report released by the Commerce Department on Wednesday, while the report also showed a bigger than expected jump in personal spending.

Reflecting another steep drop in orders for transportation equipment, the Commerce Department released a report on Wednesday showing an unexpected decrease in new orders for U.S. manufactured durable goods in the month of October.

Revised data released by the Commerce Department on Wednesday showed the U.S. economy grew by slightly more than previously estimated in the third quarter. The Commerce Department said real gross domestic product advanced by 2.1 percent in the third quarter compared to the previously reported 2.0 percent increase.

A report released by the Labor Department on Wednesday showed first-time claims for U.S. unemployment benefits slid to their lowest level in over fifty years in the week ended November 20th. The Labor Department said initial jobless claims tumbled to 199,000, a decrease of 71,000 from the previous week's revised level of 270,000.

Revised data released by the Commerce Department on Wednesday showed the U.S. economy grew by slightly more than previously estimated in the third quarter.

Reflecting another steep drop in orders for transportation equipment, the Commerce Department released a report on Wednesday showing an unexpected decrease in new orders for U.S. manufactured durable goods in the month of October.

A report released by the Labor Department on Wednesday showed first-time claims for U.S. unemployment benefits slid to their lowest level in over fifty years in the week ended November 20th.

President Joe Biden on Monday announced his intent to nominate Jerome Powell for a second term as Federal Reserve Chair. The White House also revealed that Biden intends to nominate current Fed Governor Lael Brainard as Vice Chair of the Federal Reserve System.

Existing home sales in the U.S. unexpectedly increased in the month of October, according to a report released by the National Association of Realtors on Monday. NAR said existing home sales climbed 0.8 percent to an annual rate of 6.34 million in October after spiking by 7.0 percent to a rate of 6.29 million in September.