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With consumer spending and non-residential fixed investment rising more than estimated just two weeks ago, the Commerce Department released a report on Friday showing an unexpected upward revision to the pace of U.S. economic growth in the third quarter of 2013. The Commerce Department said gross domestic product increased by an upwardly revised 4.1 percent in the third quarter.

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Consumer sentiment in the U.S. showed a notable improvement in the month of December, according to a report released by Thomson Reuters and the University of Michigan on Friday, with the consumer sentiment index unrevised from the preliminary estimate.

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New orders for U.S. manufactured durable goods rose by much more than expected in the month of November, according to a report released by the Commerce Department on Tuesday, with the increase partly reflecting a rebound in orders for transportation equipment.









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While the Commerce Department released a report on Tuesday showing a drop in new home sales in the U.S. in the month of November, sales still came in above economist estimates due to an upward revision to the October data.

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Reflecting the volatility seen during the holiday season, the Labor Department released a report on Thursday showing a steep drop in initial jobless claims in the week ended December 21st following the sharp jump seen earlier in the month.

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Switzerland's current account surplus for the third quarter increased from the same period last year, data from the Swiss National Bank showed Monday.

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Pending home sale in the U.S. showed a slight increase in the month of November, according to a report released by the National Association of Realtors on Monday, although the modest uptick fell well short of economist estimates. NAR said its pending home sales index inched up 0.2 percent to 101.7 in November.

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Nouriel Roubini, labeled "Dr. Doom" when he correctly predicted a housing collapse would lead to the market crash in 2007, is out this week with a relatively optimistic forecast for global economic growth in 2014.

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An index measuring non-manufacturing business activity in China posted a seasonally adjusted score of 54.6 in December, the latest survey from the China Federation of Logistics and Purchasing revealed on Friday.

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Activity in the U.S. service sector unexpectedly grew at a slower rate in the month of December, according to a report released by the Institute for Supply Management on Monday. The ISM said its non-manufacturing index edged down to 53.0 in December from 53.9 in November, although a reading above 50 still indicates growth in the service sector.

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