This post first appeared on FloatingPath
Recap of this week’s U.S. economic events:
- Real GDP growth in the third quarter was revised up to 3.61%.
- The U.S. Employment Situation for November 2013. Overall positive report but some signs of weakness.
- ADP saw private payroll gains of 215k in November.
- The December Beige Book indicated “modest to moderate” growth with stronger manufacturing.
- The monthly international trade deficit decreased to $40.6 billion in October.
- Real disposable personal income declined 0.2% in October.
- Factory orders decreased 0.9% in October.
- The ISM manufacturing PMI increased to 57.3 in November.
- The ISM non-manufacturing NMI declined to 53.9 in November.
- Consumer credit increased at a SAAR of 7.1% in October.
- New home sales in October improved to a SAAR of 444k.
- Construction spending increased 0.8% in October.
- Light vehicle sales increased to a SAAR of 16.41 million in November.
- SNAP participation decreased a sharp 0.75% in September.
- Consumer sentiment jumped up to 82.5 in December.
- The Restaurant Performance Index increased to 100.9 in November.
- The Intuit Small Business Employment Index increased 0.06% in November.
- Initial jobless claims for the week fell to 298k.
- Weekly intermodal rail traffic bounced down to -13.9% Y/Y due to Thanksgiving being a week earlier last year.
- The weekly National Financial Conditions Index tightened to -0.93.
- M2 increased 0.14% from the week prior.
- Weekly store sales reports suggest that Black Friday sales were strong.
The Electron Global Fund was up 2% for September, bringing its third-quarter return to -1.7% and its year-to-date return to 8.5%. Meanwhile, the MSCI World Utilities Index was down 7.2% for September, 1.7% for the third quarter and 3.3% year to date. The S&P 500 was down 4.8% for September, up 0.2% for the third Read More