Economy

Bloomberg: Economic Growth to Accelerate in 2014

Bloomberg reported that U.S. economic growth will accelerate this year even as the pace of expansion remains sub-par almost five years after the end of the recession. read more

ISM: December Manufacturing Index Second Highest of '13

The Institute for Supply Management said activity in the manufacturing sector registered its second highest level for 2013 in December. read more

November Construction Spending Up 5.9% Y/Y

The Department of Commerce said construction spending during November 2013 was estimated at $934.4 billion, 5.9% above the November 2012 estimate of $882.7 billion. read more

PayNet: Small Business Investment Increases in November

The latest results of small business trends prepared by PayNet registers another increase for small business investment. At the same time, small businesses exhibited a slight increase in delinquent payment of loans and leases. read more

Fitch: High Yield Default Rate to ‘Remain Steady’

Fitch Ratings said it projects that the U.S. high yield default rate will remain in a range of 1.5%-2.0% in 2014. Fitch said the key pillars of a low default rate environment – credit availability and good corporate fundamentals – “remain steady.” read more

November Durable Goods Orders Outpace Expectations

The Commerce Department reported that new orders for manufactured durable goods in November increased $8.2 billion or 3.5%. The New York Times notes in a related story, the increase outpaced economists’ expectations for a 2% rise. read more

U.S. GDP Growth Accelerates in Q3

Real gross domestic product increased 4.1% in Q3/13, according to estimates released by the Bureau of Economic Analysis. read more

Fed to Taper Bond Buying; Rates Remain Low

The Federal Reserve said it will reduce its monthly bond buying purchases by $10 billion beginning in January and will keep the target range for the federal funds rate at 0 to 0.25% read more

BofA Merrill: Strong Global Economic Sentiment for 2014

Investors enter 2014 optimistic about the global economy and outlook for Japanese and European equities, according to the BofA Merrill Lynch Fund Manager Survey for December. read more

TD Economics: Economic Recovery to Gain Speed

After a year that started with a fiscal cliff and ended with the first bipartisan budget deal in years, diminishing fiscal drag should give way to faster economic growth, according to a new TD Economics report. read more

BofA Outlook: CFOs Optimistic, Foresee Sales Growth

CFOs are more optimistic about U.S. economic growth than they were a year ago and expect their companies’ sales to increase in 2014, according to the Bank of America Merrill Lynch 2014 CFO Outlook survey. read more

NABE: Economic Growth to Accelerate, Panel Says

The NABE said it released its December 2013 Outlook survey. The panel of 51 professional economic forecasters expects “the pace of economic growth to accelerate in both 2013 and 2014.” read more

U.S. Adds 203,000 Jobs, Unemployment Falls to 7% in Nov.

The Labor Department said U.S. employment rose by 203,000 in November and the unemployment rate declined from 7.3% to 7.0%. Employment increased in transportation and warehousing, healthcare, and manufacturing. read more

Beige Book: Economic Growth 'Modest to Moderate'

According to the Fed's Beige Book, the economy expanded at a modest to moderate pace from early October through mid-November, with manufacturing continuing to grow in most districts. read more

ISM: Services Sector Slows, Manufacturing Hits 2013 High

The Institute for Supply Management said growth in the non-manufacturing sector slowed in November but the manufacturing sector reached its highest index reading so far this year. read more

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Terry Mulreany
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