The Conference Board announced that the U.S. leading index increased 0.1 percent, the coincident index increased 0.2 percent and the lagging index increased 0.5 percent in November.
Corporate marriages may be on the rise through the end of the decade, a new survey suggests. Twenty-seven percent of CFOs polled recently said they expect the number of corporate mergers and acquisitions (M&As) overall to increase in the next 12 months. In a follow-up survey, 48 percent of CFOs polled said they anticipate greater M&A activity in the next two to three years.
The second annual "Entrepreneurial Challenges Survey" by Entrepreneur magazine and PricewaterhouseCoopers reveals finding and retaining qualified employees is the top concern for entrepreneurs otherwise generally optimistic about 2007. Full results of the survey are available in the January 2007 issue of Entrepreneur.
Mortgage rates moved higher for the third consecutive week following strong consumer spending figures for November. The average 30-year fixed rate mortgage is now 6.23 percent. According to Bankrate.com's weekly national survey of large lenders, the 30- year fixed rate mortgages had an average of 0.25 discount and origination points.
Skittish consumers are a significant factor in the top choices for the most troubled industries in 2007, according to respondents to the Turnaround Management Association's annual Trend Watch poll. Potential homebuyers and U.S. automobile owners seem to be in a "wait-and-see" mode, adding to the current distress in those industries.
Most U.S. households on average have never been better off in the wealth department, Wells Fargo's senior economists said during the company's annual economic forecast teleconference earlier this week. The economists also forecast U.S. economic growth in 2007 despite the current economic slowdown, Federal Reserve interest-rate increases, home price declines, higher oil prices, and the war in Iraq.
Financial professionals are cautiously optimistic about economic growth in 2007, according to a new survey conducted by the Association for Financial Professionals (AFP). Forecasting modest growth for the year ahead, survey respondents expect their organizations to expand their U.S.-based workforces in the coming year. However, financial professionals also cite factors including volatile energy costs, the declining value of the U.S. dollar and rising health care costs as issues of concern.
CSM Worldwide is predicting another lackluster year of auto sales in the United States. The sales forecasting group at the global automotive forecasting and advisory firm is projecting sales to descend to a nine-year low of 16.2 million units in 2007.
Mortgage rates rebounded this week following upbeat economic reports on employment and retail sales. The average 30-year fixed rate mortgage increased to 6.13 percent, which is still the third-lowest level of 2006. According to Bankrate.com's weekly national survey of large lenders, the 30-year fixed rate mortgages had an average of 0.24 discount and origination points.
RealtyTrac(R), the leading online marketplace for foreclosure properties, today released its November 2006 U.S. Foreclosure Market Report, which shows that 120,334 properties nationwide entered some stage of foreclosure during the month, an increase of 4 percent from the previous month and an increase of 68 percent from November 2005. The report also shows a national foreclosure rate of one new foreclosure filing for every 961 U.S. households, the highest monthly foreclosure rate reported so far this year.
