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.”

The consumer confidence index decreased to 135.7 in November from an unrevised 137.9 last month.

Texas factory activity growth, as measured by the production index, “continued to expand in November, albeit at a markedly slower pace.”

The Chicago Fed National Activity Index for October rose to 0.24 from a downwardly revised 0.14 in September.

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

Existing home sales were up 1.4% to a seasonally adjusted 5.22 million-unit rate in October from an unrevised 3.4% decline to a 5.15 million sales pace the previous month.

The composite of the Leading Economic Index was up 0.1% in October following an upwardly revised 0.6% gain in September.

Orders placed with U.S. factories for business equipment were weak in October for a third straight month.

Filings for U.S. unemployment benefits rose last week to the highest level since late June.

U.S. new-home construction picked up in October on a rebound in apartments and other multifamily housing.

The region's services sector expanded at a faster pace, as the general business conditions index grew to 43.3 in November from 37.6 in October.