The outlook for fourth-quarter GDP growth is looking shaky at the moment, but the antidote for macro worries is still firmly entrenched in the labor market. Payrolls have perked up in recent months and today’s release of new unemployment filings hints at more of the same as fresh numbers roll off the government’s assembly line in the weeks ahead.
Continue reading →

Yesterday’s upbeat data for US personal income and spending delivered some holiday cheer, but the gains didn’t help the Atlanta Fed’s fourth-quarter GDP estimate. The fed bank’s widely followed GDPNow forecast for Q4 growth tumbled to a weak 1.3% (seasonally adjusted annual rate) in yesterday’s revision (Dec.23), down from the previous 1.9% projection. The update is a reminder that US economic growth appears on track to end 2015 with a whimper.
Continue reading →

● US personal income rises in Nov, boosting consumer spending | Reuters
● US durable goods orders unchanged in Nov | MarketWatch
● New home sales in US rose 4.3% in Nov | WSJ
● US consumer sentiment ticks up in Dec | 24/7 Wall St
● Mortgage applications in US jump 7.3% in week through Dec 18 | HousingWire