The University of Michigan’s Consumer Sentiment Index was improved for December at 82.5, after the November reading was adjusted from 82.5 to 75. Analysts noted that consumers were relieved when legislative gridlock ended. Durable goods orders reached their highest level since May with November’s reading of + 3.5 percent. Without the volatile transportation sector, the reading for November was +1.2 percent. This could be a sign of economic recovery for manufacturing, as more orders are being placed. Economists expected an overall increase of 2.0 percent for overall durable goods orders. The U.S. Commerce Department provided housing markets with good news with its New Home Sales report for November. 464,000 new homes were sold in November against expectations of 440,000 new homes sold. This expectation was based on the original reading of 444,000 new homes sold in October, which has been revised to 474,000 new homes sold. The latest reading for…
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