Succinct Summations for the week ending October 28th, 2016
1. Real GDP rose to 2.9% (SAAR) Q/O/Q, the highest reading since 2014.
2. FHFA house price index rose 0.7% m/o/m and 6.4% y/o/y, both above expected.
3. Jobless claims fell to 258k, with the 4-week average falling to 253k.
4. PMI Manufacturing index flash came in at 53.2, up from 51.4 previously and above the 51.2 expected.
5. New home sales rose 3.9% to an SAAR of 593k.
6. State Street investor confidence index came in at 99.1, up from 95.5 previously.
7. PMI services flash came in at 54.8, up from 51.9 previously.
1. Durable goods fell 0.1% m/o/m, although they’re up 1.6% y/o/y. Core fell 1.2% m/o/m and 4.1% y/o/y.
2. Chicago Fed national activity index came in at -0.14, the previous reading was revised from-0.55 down to -0.72.
3. Consumer confidence fell from 104.1 down to 98.6, below the 101 expected.
4. The MBA mortgage application index fell 4.1% w/o/w.
5. New home sales were revised down from 609k in August down to 575k.