The three month moving average (3MMA), of the Baltic Dry Index (BDI), for November moved-up 7.7% to 1,434 month on month (m/m). The index has moved higher in each of the last four months, (3MMA). On a 3MMA year on year basis, (y/y), the BDI was 55.4% higher.

On a national basis, existing home inventory in October decreased by 60,000 units or 3.2% month on month, (m/m) to 1.800 million, (M). On a year on year, (y/y) comparison, inventory of existing homes fell 10.4%. Month’s supply of existing homes was 3.9, its lowest level since May.

Consumer confidence soared again in November as the Conference Board Consumer Confidence Composite Index rose 3.3 points to 129.5 to reach its highest level in 17 years. This make five monthly increases in a row.

Data from the Bureau of Economic Analysis (BEA), shows that total light (cars and light truck/SUVs), vehicle sales in September were at a seasonally adjusted annual rate, (SAAR) of 18.918 million (M), units, up 2.464 M units or up 15.0% from August.

The pace of U.S. economic growth accelerated in October as evidenced by the strong score of the CFNAI which moved-up 0.65 after a 0.36 rise in September. This was just the second time since late 2014, that the index recorded back-to-back monthly advances.

Total non-seasonally adjusted, (NSA) nonfarm payroll employment increased by 261,000 in October up from September’s decline of 18,000. A total of 148,006,000 people were employed in non-farm jobs and the unemployment rate fell to 4.1% according to the U.S.