Weekly Economic Update: December 26-30, 2011
Pending home sales rose 7.3% in November. The Case-Shiller home price index edged down 0.6% in October. Initial jobless claims increased 15,000 to a level of 381,000 for the week ended 12/24.
- Pending home sales rose 7.3% in November. The primary factor behind the revision was a downward revision to personal consumption expenditures. The four-quarter growth in real GDP of 1.46% was the lowest since the 4th quarter of 2009.
- The Case-Shiller home price index fell 0.6% in October and was down 3.4% from a year ago. The index level in October (for the 20-city composite) was at its lowest level since March of 2003.
- Initial jobless declined increased 15,000 to 381,000 for the week ended December 24th.