Economic indicators

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

Personal income grew 0.2% in November, while spending rose 0.4%.

The University of Michigan's final December consumer sentiment index reading was 98.3, compared to the preliminary December 97.5.

Third quarter gross domestic product growth was revised down to a 3.4% gain from the 3.5% gain in the previous estimate.

Orders placed with U.S. factories for business equipment fell in November, missing forecasts for an increase and adding to signs that demand is slowing amid risks from the trade war with China.

The region's services sector decelerated, as the general business conditions index slumped to 3.9 in December from 43.3 in November.

The composite of the Leading Economic Index was up 0.2% in November following a downwardly revised 0.3% drop in October.

Initial claims for U.S. state unemployment benefits rose by 8,000 to 214,000 in the December 15 survey week, well below expectations for a 225,000 level.

Manufacturers report expansion “continued to grow but remained subdued” in December.

Existing home sales were up 1.9% to a seasonally adjusted 5.32 million-unit rate in November.