The Producer Price Index for final demand, seasonally adjusted, increased 0.4% in November. Final demand prices had increased 0.3% in October.
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ABC Construction Backlog Indicator Unchanged in November
The ABC Construction Backlog Indicator (CBI) held steady at a reading of 8.4 months in November. The reading is down 0.1 months from November 2023.
US Mortgage Rates Decline for Third Consecutive Week
The 30-year fixed-rate mortgage averaged 6.60%, down from last week when it averaged 6.69%, Freddie Mac reported.
US Weekly Initial Jobless Claims Increase in the Week Ending December 7th
The advance figure for seasonally adjusted initial unemployment claims was 242,000, an increase of 17,000 from the previous week’s revised level.
Bank of Canada Lowers Interest Rates by 50 Basis Points
The Bank of Canada has reduced its target for the overnight rate by 50 basis points to 3.25%.
US Consumer Price Index Increases 2.7% Year-Over-Year in November
The CPI increased 0.3% on a seasonally adjusted basis in November. This follows the previous four consecutive months increasing at a 0.2% rate.
US Asking Rents in November Fall to Lowest Level Since March 2022
The median US asking rent fell 0.7% year-over-year to $1,595 in November, the lowest level since March 2022, Redfin reported.
Mortgage Applications Increase in the Week Ending December 6th
Mortgage loan application volume increased 5.4% on a seasonally adjusted basis from one week earlier, MBA reported.
Mortgage Credit Availability Continues to Tighten in November
The MBA Mortgage Credit Availability Index declined 3.3% to a reading of 95.9 in November.
NFIB Small Business Optimism Index Reaches Highest Level Since June 2021
The NFIB Small Business Optimism Index increased 8.0 points to a reading of 101.7 in November, after remaining below the 50-year average reading of 98 for 34 months.