Labor/Economy

The Fed’s Beige Book paints a positive picture for most districts and the World Bank remains hopeful for continued economic growth.

The U.S. Department of Treasury reports the first December surplus ($53.2 billion) since 2007, while the ICSC presents a 3.4 percent gain in chain-store comparable sales for December year-over-year.

Despite anemic overall hiring in December, total hiring was roughly the same in 2013 as it was in 2012. The unexpectedly tepid monthly numbers probably won’t cause a delay in the Fed’s tapering.

Bureau of Labor stats show 74,000 jobs added in December. ShopperTrak reports a 2.7 percent increase in retail sales this holiday season over last, and newly released Mortgage Bankers Association survey results show an expected increase in volume for 2014.

More jobs were added in December than any other month in 2013 according to ADP, and newly-released Fed minutes confirm that the tapering of bond-buying will proceed in January.

The growth of home prices slows down, and U.S. total crude oil production should reach its highest level in four decades in 2015.

The services sector of the economy takes a dip in December, though new factory orders increased in November to their highest level since the Census Bureau has been keeping track.

Auto sales were up 7.5 percent in 2013, and soon to be ex-chairman Ben Bernanke remains optimistic about the U.S. economy in 2014.

U.S. construction spending is at its highest level since March 2009, and unemployment claims decrease for the week ending December 28.