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After reporting a sharp drop in U.S. consumer confidence in the previous month, the Conference Board released a report on Tuesday showing that confidence unexpectedly saw further downside in November. The Conference Board said its consumer confidence index dipped to 70.4 in November from an upwardly revised 72.4 in October.
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Originally Posted by TheNews
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Indicating strengthening conditions in the underlying economy, the Conference Board released a report on Wednesday showing that its reading on leading U.S. economic indicators unexpectedly rose for the fourth straight month in October. The Conference Board said its leading economic index edged up by 0.2 percent in October after rising by an upwardly revised 0.9 percent in September.
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In another upbeat sign for the U.S. labor market, the Labor Department released a report on Friday showing stronger than expected job growth in the month of November.
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Australia posted a seasonally adjusted unemployment rate of 5.8 percent in November, the Australian Bureau of Statistics said on Thursday.
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With utilities output jumping sharply amid colder-than-average temperatures, the Federal Reserve released a report on Monday showing that U.S. industrial production rose by much more than expected in the month of November. The report said industrial production surged up by 1.1 percent in November compared to economist estimates for an increase of about 0.6 percent.
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The members of the Reserve Bank of Australia's monetary policy board still believe that additional monetary easing facilities remain a possibility, minutes from the bank's December meeting revealed on Tuesday.
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New residential construction showed a substantial increase in the month of November, according to a report released by the Commerce Department on Wednesday, with housing starts jumping to their highest level in over five years.
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Existing home sales in the U.S. fell by more than expected in the month of November, according to a report released by the National Association of Realtors on Thursday. NAR said existing home sales dropped 4.3 percent to a seasonally adjusted annual rate of 4.90 million in November after falling 3.2 percent to 5.12 million in October.
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While the Federal Reserve Bank of Philadelphia released a report on Thursday showing that regional manufacturing activity grew at a slightly faster rate in December, the index of activity in the sector rose by much less than expected. The Philly Fed said its diffusion index of current activity edged up to 7.0 in December from 6.5 in November.
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