Gary Siegel

The region's non-manufacturing sector declined in December, as the general business conditions index slipped to 32.5 from 41.2 in November, this month's Federal Reserve Bank of Philadelphia Report on Business indicates.

Service sector activity "slowed going into the December holidays," according to the Federal Reserve Bank of Richmond service-sector activity survey, released Tuesday.

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 rose to 7 in December from 4 in November.

The University of Michigan's final December consumer sentiment index reading was 93.6, compared to the preliminary December 93.8 and the final November 88.8, according to market sources.

The Chicago Fed National Activity Index for November surged to 0.73 from a revised 0.31 reading in October, while the three-month moving average (CFNAI-MA3) gained to 0.48 from a revised 0.09 in October, the Federal Reserve Bank of Chicago reported Monday.

It is "unlikely" the Federal Open Market Committee will raise rates for "at least the next couple of meetings," Federal Reserve Board Chair Janet Yellen said at a press conference Wednesday, yet she noted that could change based on incoming data.

The Federal Open Market Committee said the zero lower bound percent target range for the federal funds rate “remains appropriate” and the panel “judges that it can be patient in beginning to normalize the stance of monetary policy,” removing the phrase “for a considerable time” from its statement.

The median Consumer Price Index increased 0.1% in November, the Federal Reserve Bank of Cleveland reported Wednesday.

The New York region's service sector activity "expanded modestly," according to the Federal Reserve Bank of New York's December Business Leaders Survey, released Tuesday.

Builders' confidence in the market for new single-family homes grew as the National Association of Home Builders' housing market index slipped to 57 in December from 58 in November.

The Empire State Manufacturing Survey showed "business activity declined for New York manufacturers," the Federal Reserve Bank of New York reported Monday, as the general business conditions index plunged to negative 3.58 in December from positive 10.16 in November.

Narayana Kocherlakota, Federal Reserve Bank of Minneapolis president, announced Friday that he will not seek reappointment when his term expires on Feb. 29, 2016.

The University of Michigan's preliminary December consumer sentiment index reading was 93.8, compared to the final November 88.8, and the preliminary November 89.4, according to market sources.

Business inventories rose 0.2% to $1.760 trillion in October, while sales were down 0.1% to $1.351 trillion, the Commerce Department reported Thursday.

Labor market conditions dipped slightly as the Kansas City Fed Labor Market Conditions Indicators (LMCI) fell to negative 0.50 in November from negative 0.45 in October, according to the Bank.

Wholesale inventories increased 0.4% in October, the Commerce Department reported Tuesday.

The Small Business Optimism Index rose 2 points in November to 98.1, its highest level since February 2007, according to the National Federation of Independent Business.

Consumers' view of inflation expectations held steady in November, with buyers expecting 3.0% inflation over the course of one year and three years, according to the Survey of Consumer Expectations, released by the Federal Reserve Bank of New York on Monday.

The Conference Board's Employment Trends Index (ETI) gained to 123.24 in November from a downwardly revised 122.80 in October, and is up 6.1% from a year ago, the group announced Monday.

Gross domestic product should grow 2.1% this year and 2.7% next year, while inflation , as measured by the consumer price index, should be 1.8% this year and 1.7% next, with the unemployment rate sliding to 5.6% by the end of 2015, according to participants in the Federal Reserve Bank of Chicago's annual Economic Symposium.