Economic indicators

The MNI Chicago Business Barometer surged to an 11-month high of 66.4 in November/

Pending home sales fell 2.6% to an index reading of 102.1 in October, after a revised 0.7% rise to 104.8 in September.

Initial claims for U.S. state unemployment benefits were up 10,000 to 234,000 in the Nov. 24 holiday week, well above the 220,000 level expected.

Nominal personal consumption expenditures rose 0.6% in October while core PCE prices were up 0.1% for the month, slowing the year/year rate to 1.8%.

Three of the four index components declined from September.

Sales of new U.S. homes fell in October to the weakest pace since March 2016 as rising borrowing costs and elevated prices keep buyers out of the market.

Service sector “grew slightly in November,” according to the Federal Reserve Bank of Richmond service-sector activity survey, released Wednesday.

Manufacturing growth in the central Atlantic region “grew moderately in November.”

The U.S. economy remained on a solid footing in the third quarter, matching previously reported results.

Texas service sector activity “grew at a faster pace in November.”