Economic indicators

Pending home sales dropped 2.2% to an index reading of 99.0 in December, after a revised 0.9% decline to 101.2 in November.

Private-sector employment increased by 213,000 in January, on a seasonally adjusted basis, ADP estimated Wednesday.

Texas service sector activity “grew at a faster pace in January,” according to business executives responding to the Federal Reserve Bank of Dallas' Texas Service Sector Outlook Survey, as the revenue index climbed to 14.9, from 10.1.

The consumer confidence index decreased to 120.2 in December from a downwardly revised 126.6 last month.

Texas factory activity growth, as measured by the production index, “continued to expand in January.”

The Chicago Fed National Activity Index for December rose to 0.27 from a downwardly revised 0.21 in November.

The December Chicago Business Barometer was revised down to 63.8 from 65.4 previously, following the annual seasonal adjustments.

Respondents to the Federal Reserve Bank of Kansas City's monthly manufacturing survey reported slower growth in January, while expectations grew.

The composite of the Leading Economic Index was off 0.1% in December following an unrevised 0.2% rise in November, the Conference Board said Thursday.

Initial claims for U.S. state unemployment benefits fell by 13,000 to 199,000 in the Jan. 19 week, well below expectations for a 210,000 level.