- The Fed’s Bernanke said, in prepared comments that financial-market turmoil may put additional strain on the U.S. economy, signaling he is open to cuts in interest rates.
- QoQ U.S. GDP rose at an annual rate of 4.9%, the best quarterly performance in four years. YoY GDP rose 2.8%,
- The U.S. GDP price deflator rose 0.9% in the third quarter.
- The U.S. Census Bureau said that new home sales rose 1.7% from September's pace. YoY new home sales are down 24%.
- The Federal Reserve will act to protect the wider economy from financial turmoil but not to shelter individual investors from losses.
- Industrial production in Japan rose 1.6% -- a new record high.
- Housing prices in the U.K. fell 0.8% in November,
- GDP in the Philippines rose 6.6% in the third quarter.
- The U.S. Energy Department said that underground supplies of natural gas were down 12 billion cubic feet last week to 3.528 trillion cubic feet.
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