Gary Siegel

Manufacturing activity in the central Atlantic region "grew modestly in December," according to the monthly business activity survey conducted by the Federal Reserve Bank of Richmond, as the manufacturing index gained to positive 6 in December from negative 3 in November.

Existing home sales fell 10.5% to a seasonally adjusted 4.76 million-unit rate in November from a downwardly revised 5.32 million pace the previous month, the National Association of Realtors announced Tuesday.

The region's non-manufacturing sector gained in December, as the general business conditions index rose to 35.3 from 26.3 in November, this month's Federal Reserve Bank of Philadelphia Report on Business indicates.

The Chicago Fed National Activity Index for November dropped to negative 0.04 from a revised negative 0.17 reading in October, while the three-month moving average (CFNAI-MA3) dipped to negative 0.20 from an upwardly revised negative 0.18 in October, the Federal Reserve Bank of Chicago reported Monday.

Consumers' view of inflation was at its lowest level in November, according to the Survey of Consumer Expectations, released by the Federal Reserve Bank of New York on Friday.

The University of Michigan's preliminary December consumer sentiment index reading was 91.8, compared to the final November 93.1, and the preliminary November 93.1, according to market sources.

The federal government ran a $64.6 billion budget deficit in November, the Treasury Department reported Thursday.

Increases in gross domestic product will be lower than those projected six months ago, as the estimated GDP for the last half of 2015 was lowered to 2.1% from 3.1%, according to the Federal Reserve Bank of Philadelphia's Livingston survey, released Thursday.

Labor market "activity declined as momentum remained high" as the Federal Reserve Bank of Kansas City Labor Market Conditions Indicators (LMCI) widened to negative 0.113 in October from a revised negative 0.014 in October, first reported as negative 0.056, according to the Bank.

Outgoing Federal Reserve Bank of Minneapolis President Narayana Kocherlakota will not attend the Federal Open Market Committee next week, the bank said.

Both the manufacturing and non-manufacturing sectors of the economy should see growth in 2016, according to the Institute for Supply Management's December 2015 Semiannual Economic Forecast, released Tuesday.

The Federal Reserve's Labor Market Conditions Index, a compilation of 19 labor market measures, fell to 0.5 in November from a revised 2.2 in October.

The Conference Board's Employment Trends Index (ETI) slipped to 128.69 in November from an upwardly revised 129.75 in October, and is up 2.7% from a year ago, the group announced Monday.

Inflation, measured by the consumer price index, is forecast at 0.4% this year, but 1.9% next year, according to participants in the Federal Reserve Bank of Chicago's annual Economic Outlook Symposium, released Monday.

Noting that he'd prefer a "sooner rather than later" rate hike, Federal Reserve Bank of Philadelphia President and Chief Executive Officer Patrick T. Harker said Friday hiking rates this year will cut uncertainty and set the economy up for healthy growth.

U.S. inflationary pressures were off in November, as the U.S. future inflation gauge dipped to 102.0 from an upwardly revised 102.4 reading in October, first reported as 102.1, according to data released Friday morning by the Economic Cycle Research Institute.

The U.S. services sector expanded at a slower pace in November as the non-manufacturing business activity composite index was 55.9 in the month, compared to 56.9 in October, on a seasonally adjusted basis, the Institute for Supply Management reported Thursday.

Federal Reserve Board Chair Janet Yellen's Thursday testimony before the Congressional Joint Economic Committee pretty much repeated what she said Wednesday at The Economic Club of Washington, suggesting she is prepared for liftoff later this month.

Rates should go up "sooner rather than later," Federal Reserve Bank of San Francisco President and CEO John C. Williams said Wednesday.

While hedging that incoming data will determine whether the Federal Open Market Committee begins the normalization process this month, Federal Reserve Board Chair Janet Yellen suggested Wednesday that she's ready for a rate increase.