While new orders in durable goods contracted at their fastest annual rate in December, the rate of contraction should begin to slow in early 2020.
In December 2019, real disposable income was $15,107 billion, which was lower than two of the last three months.
December’s durable goods spending grew at its fastest rate since May 2018.
January’s GBI reading ends a five-month trend of accelerating contraction in manufacturing, representing the highest Index reading since June of 2019.
In November, cutting tool orders contracted 11.3%, the fastest rate of contraction since July 2016.
December was third month in the last four that housing permits increased more than 12%.
In December, the monetary base was $3.427 trillion, which was its highest level since November 2018.
November production contracted 1.0% compared with one year ago.
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