Overview: GDP growth was revised upwards to 2.5% for the 3rd quarter. Existing home sales fell 2.2% in October as new home sales fell 8.1%. Personal income rose 0.5% and personal spending rose 0.4% in October. Durable orders fell 3.3% in October. Initial jobless claims fell by 34,000 to a level of 407,000 for the week ended 11/20.
GDP growth for the 3rd quarter was revised upwards to an annual rate of 2.5%, from a prior, advance estimate of 2.0%.
Existing home sales fell 2.2% to an annual pace of 4.43 million units in October.
New home sales fell 8.1% to an annual pace of 283,000 units in October.
Personal income rose 0.5% in October as personal spending increased 0.4%.
Durable orders fell by a greater-than-anticipated 3.3% in October. Excluding transportation, orders were down 2.7%.
Initial jobless claims unexpectedly fell by 34,000 to 407,000 for the week ended November 20th.