The Labor Department reported that the unemployment rate fell to 10% in November from 10.2% in October. Employers cut 11,000 jobs, the smallest monthly loss since the recession began in December 2007. Payrolls were forecast to decline by 125,000.

The Institute for Supply Management reported the monthly index of manufacturing activity fell to 53.6 in November after reaching a three-year high of 55.7 in October. However, the new orders component rose to 60.3 from 58.5. A reading above 50 signals expansion.

The Commerce Department reported total construction spending was unchanged in October after dropping 1.6% in September. Economists had expected a decrease of 0.4%. Private residential activity rose 4.4%.

The National Association of Realtors reported that its pending home sales index, a forward-looking indicator based on signed contracts, rose 3.7% to 114.1 in October, following a 6.1% increase in September. It was the ninth consecutive monthly increase. On a year-over-year basis, pending home sales are up 31.8%.

The Mortgage Bankers Association said its seasonally adjusted index of mortgage applications for the week ending November 27 rose 2.1% to 613.7. Purchase volume increased 4.1% to 232.3. Refinancing applications gained 1.7% to 2866.4.

The Institute for Supply Management reported the monthly index of non-manufacturing activity was 48.7 in November, down from 50.6 in October. A reading above 50 signals expansion.

The Labor Department reported productivity rose at an annual rate of 8.1% in the third quarter, the largest gain in six years. Labor costs fell at an annual rate of 2.5%.

The Commerce Department reported factory orders rose 0.6% in October, following an upwardly revised 1.6% gain in September. It was the sixth gain in the past seven months.

Upcoming on the economic calendar are reports on wholesale trade on December 9 and retail sales on December 11.

Kurt Galitski

Meet Kurt Galitski - The Kurt Real Estate Group, your new best friend. Distinctive Strategies that Deliver Record-Setting Results. When you combine Kurt’s passion and knowledge of the real estate market, you really gain an appreciation for what makes Kurt different. But what truly sets him apart from the crowd are his 5 distinctive strategies and his property management… For Kurt, getting into real estate was not an accident, it was a deliberate and calculated decision to deliver a better experience to home buyers, sellers, and landlords that they have ever received before. Today, you could ask any one of hundreds of clients, read his Yelp reviews, or look at his track record of being featured in Orange Coast Magazine in excess of eight consecu­tive years and you too will say mission accomplished. www.KurtRealEstate.com www.KurtPropertyManagement.com 877-957-6677

More Posts - Website

Follow Me:
TwitterFacebookLinkedInGoogle PlusYouTubeYelp