“The Case-Shiller 20-City home price index increased by 5.54% y-o-y in October, just below the Consensus forecast (+5.60%) following a revised 5.36% y-o-y gain in September (previously reported as +5.45%). Home price indexes have accelerated since earlier this year, likely due to the tight inventory of for-sale homes pushing prices higher.
The Conference Board consumer confidence index increased by 3.9pts in December to 96.5, from a revised 92.6 in November (previously reported as 90.4). Consumers’ views of both current and future conditions improved in December, providing support of continued solid growth in consumer spending activity.
Q4 GDP tracking update: The advance estimate of trade in goods for November showed a narrower trade deficit than we had expected. Both real exports and imports of goods declined in November, while we had expected increases. In addition, real imports were revised lower in October while real exports were revised higher.”
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