U.S. Economic Indicators

The National Association of Realtors pending home sales index edged down 0.7% in November (down 7.7% Y/Y), the eleventh straight month of annual decreases. NAR says that recent declines in mortgage rates are not yet reflected in the data, so Pending Home Sales may pick up in the near-term. NAR Report

U.S. News

The Wall Street Journal reports that consumer debt, which is on pace to exceed $4 trillion in 2019, does not yet seem to be an issue for Americans. Economists argue that moderate debt increases are a sign of a healthy economy, because consumers feel confident enough about the outlook for wages and employment to take on extra debt. WSJ

Kristina Peterson of the Wall Street Journal writes that the partial U.S. government shutdown appears likely to stretch into the new year. The Senate has adjourned until December 31st while the House appears unlikely to hold any votes until after Democrats take control of the chamber on January 3rd, which could further dampen the prospects of reaching a deal to fund the government. WSJ