| Today's Economy
Happy Thanksgiving From Economic View! We will return on Monday, November 30. GDPNow Supplies an 11% Baseline Estimate for Fourth Quarter Real GDP Growth Resurgent COVID-19 may not fully manifest itself in the quarterly GDP growth rate until Q1 2021. Economic Roundup: A Day Stuffed With Data Lagged data were solid, but weekly initial claims are cause for concern. LatAm Daily Briefing: Almost in the Clear Uruguay's manufacturing has resumed its path toward recovery. » VIEW MORE TODAY'S ECONOMY
Commentary
Latin America Weekly Highlights and Preview, November 25, 2020 October figures on industrial production and retail sales will paint a sharper picture of regional disparities. U.S. Regional Outlook: A Lid on the Gains States that earlier had weathered the economic effects of the pandemic better are in a very different position today. U.S. Employment Outlook: Recovery at Risk The alarming escalation of COVID-19 infections will cast a pall over the labor market in coming quarters. U.S. Weekly Highlights and Preview, November 23, 2020 We expect third-quarter GDP to be revised higher in the government’s second estimate. » VIEW MORE COMMENTARY
Today's Economic Indicators
United States
Moody’s Analytics & CNN Business Back-to-Normal Index
November 25:
United States
MBA Mortgage Applications Survey
November 20: 3.9%
Mortgage applications jumped by 3.9% in the week ending November 20, reversing the 0.3% decrease in the previous week. United States
GDP
2020Q3: 33.1%
The pandemic has created unprecedented volatility in U.S. United States
Jobless Claims
November 21: 778,000
U.S. initial claims for unemployment insurance rose 30,000 to 778,000 in the week ended November 21. United States
Durable Goods (Advance)
Oct. 2020: 1.3%
U.S. durable goods orders rose 1.3% in October, better than we and the consensus expected. United States
Advance Wholesale and Retail Inventories
Oct. 2020: 0.9%
Wholesale inventories rose 0.9% in October. United States
International Trade in Goods - Advanced
Oct. 2020: -$80.3 bil
The advance U.S. nominal goods deficit widened to $80.3 billion in October. Mexico
Retail & Wholesale Sales
Sep. 2020: -7.1%
Retail stores reported a further advance in sales as the reopening continued in September. United States
University of Michigan Consumer Sentiment Survey
Nov. 2020: 76.9
U.S. consumer sentiment slipped in November to its lowest level since August as the increase in COVID-19 infections seemingly outweighed any wave of election relief. United States
New-Home Sales
Oct. 2020: 999,000
U.S. new-home sales fell from a revised 1.002 million annualized units in September (previously 959,000) to 999,000 in October, close to our forecast but above consensus expectations. United States
Personal Income
Oct. 2020: -0.7%
Personal income contracted in October, falling 0.7% from September's 0.7% growth. United States
PCE Deflator
Oct. 2020: 0.0%
Inflationary pressures remain muted as a significant amount of slack remains in the both the labor market and the broader economy. United States
Personal Spending
Oct. 2020: 0.5%
Real consumer spending continued its rebound in October and while the pace slowed, there were net upward revisions to prior months. United States
Oil Inventories
November 20: 488.7 mil barrels
A small yet unexpected draw will lend modest upward momentum to oil prices. France
Job Seekers
Oct. 2020: 3.55 mil
The number of French job seekers fell by 56,600 to 3.55 million in October. United States
Natural Gas Storage Report
November 20: -18 bil cubic feet
The decline in natural gas inventories fell slightly short of consensus expectations, a small negative for gas prices. United States
FOMC Minutes
Nov. 2020:
The minutes from the November meeting hint that some forward guidance on the Fed’s quantitative easing could be implemented soon, possibly as early as December. » VIEW MORE ECONOMIC INDICATORS | 
