ACC's economic outlook for the week ended 4 January 2013

MACROECONOMIC STATUS Our running tab of positive indicators slipped to 11 out of 20 this week. Thus, we have returned to a yellow banner. Nonfarm payrolls up 155,000 Unemployment rate unchanged, 7.8% Consumer confidence down 6.4 points, to 65.1 New home sales up 4.4%; up 15.3% year-on-year YOY Construction spending down 0.3%; up 7.7% YOY Light-vehicle sales down to a 15.4-million unit pace Factory orders unchanged; up 0.7% YOY ISM manufacturing up 1.2 points, to 50.7% (expanding) ISM nonmanufacturing up 1.4 points, to 56.1% Texas Mfg. Survey up 9.6 points, to...

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