U.S. Economic News

November 29, 2017

U.S. Economic Indicators

The National Association of Realtors pending home sales index rose 3.5% in October (down 0.6% Y/Y).  NAR says that the jump in pending home sales — after three straight monthly declines — was mostly due to improvements in the south, which has begun recovering after recent hurricanes.  NAR Report

The second estimate of Q3 GDP indicates that the U.S. economy expanded at an annualized rate of 3.3%, above the first estimate of 3.0%. The reading reflects healthy consumer spending, business investment, and net exports as well as strong contributions from private inventories. BEA

U.S. News

The Financial Times reports that the Trump administration has launched an anti-dumping investigation against China, the first such investigation initiated in over 25 years. The investigation will center on aluminum imports from China, and has been self-initiated by the Commerce Department instead of being requested by U.S. industry members. FT

According to the Wall Street Journal, Federal Reserve Chair Janet Yellen says that the Fed will continue its path of gradual rate increases. Fed officials have offered little push-back on market expectations of another rate hike in December, and Yellen also said that recent, sluggish inflation is likely transitory. WSJ