Overview:  GDP growth for the 3rd quarter was revised slightly upwards to 2.6%.  Existing home sales rose 5.6% in November while new home sales rose 5.5% and pending home sales increased 3.5%.  Personal income was up 0.3% in November and personal spending was up 0.4%.  Durable orders fell 1.3% in November.  The S&P/Case-Shiller home price index fell 1.0% in October.  Initial jobless claims fell by 1,000 to a level of 422,000 for the week ended 12/18 and fell by 34,000 to a level of 388,000 for the week ended 12/25.

The 3rd quarter estimate for GDP was revised slightly upwards to an annual growth rate of 2.6%, from a previous estimate of 2.5%.

Existing home sales rose 5.6% to an annual pace of 4.68 million units in November.

New home sales increased 5.5% to an annual pace of 290,000 units in November.

Pending home sales surprised on the up side with a 3.5% increase in November.

Personal income rose 0.3% in November as personal spending increased 0.4%.

Durable orders fell 1.3% in November; excluding transportation, orders rose by a greater-than-expected 2.4%.

The S&P/Case-Shiller home price index was down 1.0% in October, and was down 0.8% from a year ago. The index is down 30.5% from its April 2006 high, and is now at a level last reached in the summer of 2003.

Initial jobless claims fell by 1,000 to 4220,000 for the week ended December 18th, and fell by 34,000 to 388,000 for the week ended 12/25.