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Capital Economics Peers Past Fiscal Cliff

Even as the country barrels closer and closer to the fiscal cliff at the end of the year, Capital Economics is maintaining its projection for modest economic growth in 2013. In the firm's latest US Economics Update, economists Paul Ashworth and Paul Dale take a peek into what they believe is America's likely economic future: GDP growth of 2.0 percent in 2013 followed by 2.5 percent the following year. Of course, there are some major factors that could seriously stifle growth.

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SIFMA CEO Anticipates New Year in an Uncertain Industry

As the year draws to a close and many of us reflect on its events, make predictions, and set goals for the new year, the Securities Industry and Financial Markets Association (SIFMA) is doing the same. In an interview included in SmartBrief's 2012 Best Of reports, SIFMA CEO Tim Ryan spoke of the regulatory progress and the lack thereof that has taken place in 2012 and his organization's concerns and expectations for the year ahead.

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Personal Income Soars in November, Q4 Still Looks Weak

Personal income jumped 0.6 percent in November--twice what economists forecast--improving $85.8 billion, while spending rose a hefty 0.4 percent, the Bureau of Economic Analysis (BEA) reported Friday. The growth in spending matched economists├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ó forecasts. The jump in spending reversed a $6.6 billion decline in October but fell short of the $86.2 increase in consumption recorded in September.

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Zillow: Home Values Inch Up in November

On a monthly basis, home values inched up by 0.6 percent to $156,200 in November, according to Zillow's Home Value Index. Compared to November 2011, home values have increased by 5.2 percent, which is the biggest yearly gain since August 2006. Twenty-six of the 30 largest metros tracked by Zillow registered yearly gains. Not surprisingly, Phoenix led with a 23.2 percent increase. The metro was followed by San Jose (+13.4 percent), San Francisco (+12.1 percent), Las Vegas (+11 percent), and Denver (+10.8 percent).

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GDP Growth Revised to 3.1% for Q3, Corporate Profits Surge

Real GDP growth for the third quarter was revised up again, the Bureau of Economic Analysis reported Thursday, reaching a 3.1 percent annualized growth rate. The report on GDP was the third of three monthly reports tracking the broadest measure of the nation's economic health. GDP growth of 3.0 percent is considered "trend," with above-trend growth suggesting favorable conditions for hiring. In the same report, BEA said corporate profits rose $45.7 billion in the third quarter, more than double the increase in the second quarter.

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Technology Sales Vet Goes to ClosingCorp

New

ClosingCorp, a leading provider of residential real estate closing cost data and technologies for mortgage and real estate professionals, announced Mark Nogaki has joined the company as SVP of sales.

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November Existing-Home Sales Jump to 3-Year High

Existing-home sales rose 5.9 percent in November to a seasonally adjusted annual rate of 5.04 million, the highest level since November 2009, the National Association of Realtors reported Thursday. Economists had expected the sales pace to improve to 4.9 million. The increase in sales in November was the fourth in the last six months, following a similar pattern from 2011. According to the NAR's data, November existing-home sales--closed transactions--were up 14.5 percent from one year earlier.

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