a light holiday economic release schedule

the only widely watched report released this past week was the Case-Shiller Home Price Index for October from S&P Case-Shiller, which doesn’t even include homes prices, just a index of the relative price change for repeat home sales closed in August, September and October as compared to sales in prior 3 month periods…Case Shiller reported that home prices nationally for those 3 months averaged 5.6% higher than prices for the same homes that sold during the same 3 month period a year earlier, while their popular 20 city index saw a 5.1% year over year increase….in addition, the Census released the Advance Economic Indicators report for November, a report mostly intended to help the BEA estimate trade and inventory figures for GDP….preliminary estimates from that report, which are presented in a table without much detail, showed that our November goods trade deficit rose to $65.3 billion, the highest since March 2015, following a revised $61.9 billion deficit in October, while wholesale inventories for November rose 0.9 percent from October to $594.5 billion, and retail inventories rose 1.0% to $609.6 billion…the full international trade report will be released this coming week, while the wholesale sales and inventory and retail sales reports will follow later…

the week also saw the release of the last two regional Fed manufacturing indices for December; the Richmond Fed Survey of Manufacturing Activity, covering an area that includes Virginia, Maryland, the Carolinas, the District of Columbia and West Virginia, reported its broadest composite index rose to +8 in December from +4 in November, suggesting a stronger expansion for that region’s manufacturing, while the Dallas Fed Texas Manufacturing Outlook Survey reported their general business activity composite index rose to +15.5 from last month’s +10.2, also suggesting a strengthening expansion in the Texas oil patch economy…

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