Personal income beats expectations with a 0.3% gain vs. 0.2% expected.
Spending was up 0.4% vs. 0.5% expectations. Previous month was revised higher.
Jobless claims of 420,000 is slightly better than expected, and exactly in line with last week.
Headline durable goods was much weaker than expected at -1.5%, but core durable goods was WAY better than expected.
Bottom line: overall fine. Nothing remarkable or market moving in the end.
Background: This is it! The big data dump we’ve all been waiting for.
Let’s just do real fast the expectations for all the numbers:
- Initial claims: Expectations are for 424K, up from 420K last week.
- November personal income expected to rise 0.2%, compared to 0.5% last month. Spending in November is expected to have grown 0.5% (this is crucial!).
- Durable goods ex-transport are expected to have grown 0.8% (including transport look for a big slide thanks to the timing of Boeing sales).
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