The Labor Department reports new claims for unemployment benefits were were unchanged at 245,000 the week ended December 23. Economists expected 239,000. Continuing claims edged up by 7,000 to 1.94 million the week before. Claims are a bit higher than they were at the end of summer, but they are still 5% lower compared to a year ago
Freddie Mac reports mortgage rates are higher. The 30-year fixed-rate mortgage averaged 3.99% this week, up from last week’s 3.94%. A year ago it was 4.32%. The 15-year averaged 3.44% up from 3.38%. A year ago it was 3.55%.
The U.S. goods trade deficit widened by 2.3% in November to $69.7 billion, according to the Commerce Department’s āadvance tradeā deficit report. That was was bigger than the $68.7 billion deficit expected by economists. Exports rose a seasonally adjusted 3% while imports were up 2.7%. The U.S. exported more capital goods and vehicles, but imported more consumer goods. Wholesale inventories rose 0.7%, while retail inventories ticked up just 0.1%.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
