Recap 12-27-11

Main Items:

  • US Consumer Confidence improved to 64.5 in Dec vs 58.9 exp and 56 prev
  • Richmond Fed Mfg Index improved to 3 in Dec vs 5 exp and 0 prev
  • Dallas Fed Mfg Activity Index declined to -3 in Dec vs 4.8 exp and 3.2 prev
  • Case Shiller 20 city Composite index declined -3.4% YoY thru Oct vs -3.2% exp and -3.6% prev

Overseas:

  • South Korea Consumer Confidence declined to 99 in Dec vs 103 prev

Commentary:

The regional US PMI indices for December are quite strong. We get Chicago PMI tomorrow. If it comes in near the consensus expectation of 61, we could see an ISM print of 55 later this week.

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