The Monday Mix: Nov. 27 – Dec. 3, 2023

Top-of-mind economic news as we start the week:

U.S. GDP grew at an astonishing 5.2% rate in the 3rd quarter, even stronger than the initial estimate.

Sales of new U.S. homes fell 5.6% in October on higher mortgage rates, but are up nearly 18% in the past 12 months.

The Fed’s preferred inflation index showed U.S. prices rising 0.2% in October and 3.5% from a year ago, as expected.

Inflation fell in the European Union to 2.4% at the cost of sluggish economic growth due to higher interest rates.

The UN global climate conference (COP 28) hosted by the UAE faced controversy over leader’s fossil fuel remarks and restart of Israel-Hamas war.