In the second estimate, GDP growth for the third quarter was unexpectedly revised up to 3.9%. Corporate profits came in at $1.873 trillion in the third quarter. Durable goods orders rose 0.4% in October. Personal income advanced 0.2% in October, as did consumer spending. New home sales came in at a lower-than-expected annualized pace of 458,000 in October. The pending home sales index fell 1.1% in October to 104.1. Initial jobless claims rose 21,000 to 313,000 for the week ended 11/22.

• In the second estimate, GDP growth for the third quarter was unexpectedly revised up to 3.9%. Private inventory decreased less and both personal consumption expenditures and nonresidential fixed investment increased more than previously estimated. Exports increased less than initially estimated.
• Corporate profits came in at $1.873 trillion in the third quarter. Profits are after tax but without inventory valuation and capital consumption adjustments, up an annualized 3.8% after a 6.8% increase in the second quarter and a 27.1% drop in the first quarter.
• Durable goods orders rose 0.4% in October. Orders are up 5.5% from a year ago. Excluding transportation, orders are down 0.9% over the month, and up 6.4% from a year ago.
• Personal income advanced 0.2% in October, as did personal spending. Year-on-year, personal income is up 4.1%, and consumer spending is up 3.6%. The PCE price index increased 0.1% (up 1.4% from a year ago), while core PCE increased 0.2% (up 1.6% from a year ago).
• New home sales came in at a lower-than-expected annualized pace of 458,000 in October. Price data show a 16.5% jump in the median price to a record $305,000, advancing the year-on-year rate 15.4%. Year-on-year, new home sales are up 1.8%.
• The pending home sales index fell 1.1% in October to 104.1. The sales index is up 2.2% from a year ago.
• Initial jobless claims rose 21,000 to 313,000 for the week ended November 22^nd.