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Economic commentary

Economic commentary

A blowout jobs report for November

Payroll gains far surpassed consensus expectations with an increase of 266,000 for November and upward revisions totaling 41,000 for the prior two months. Even accounting for the return of striking auto workers, which pushed up manufacturing by 54,000 jobs, November’s hiring was resoundingly strong. With a three-month average of 205,000 for job gains, concerns about possible weakness in the U.S. job market should be put to rest, at least for now. 

Economic commentary

Housing activity continues to strengthen

Data from the housing sector continue to improve as the combination of low mortgage rates, a still-solid job market with the lowest unemployment rates in 50 years, and strong household formations boosts housing demand. Existing home sales rose by 1.9 percent for October to an annualized pace of 5.46 million. This extended the uptrend for activity since the start of the year with sales for October up by 4.6 percent relative to a year ago. 

Economic commentary

November Economic Review: Growth slowing to trend, but Fed easing helps

Data from October and early November point to an economy that is stronger than expected by many analysts (albeit slowing), but in line with what members of the Federal Open Market Committee (FOMC) thought was enough to signal that further easing is not imminent. Although many risks linger, near-term fears of conditions worsening have been trimmed. See Nationwide Economics’ take on what's happening and why this month in the economy.  

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