The International Monetary Fund cut its global growth forecasts in October, saying the world economy would grow 3.3% last year, the slowest since the 2009 recession, and 3.6% in 2013. That compared with July predictions of 3.5% in 2012 and 3.9% in 2013.

Housing

Despite the decline in December, existing-home sales are up 12.8% from the same period in the prior year. The median existing-home price rose 11.5% from the prior year to $180,800. Inventories fell 8.5% to 1.82 million units in December, representing at the current sales rate a 4.4-month supply, the lowest supply ratio since 2005. It 's typical for inventories to decline in winter.

U.S. home resales unexpectedly fell in December as fewer people put their properties on the market, although not by enough to derail the boost housing will likely provide to the economy this year.

The nation's inventory of existing homes for sale fell 8.5% from November to 1.82 million, the lowest level since January 2001.

Many Americans are holding back from putting their homes on the market because they owe more on their mortgages than their homes are worth. Inventories were down 21.6% from December 2011. At the current pace of sales, inventories would be exhausted in 4.4 months, the lowest rate since May 2005.

The median price for a new home rose to $248,900 in December from $245,600 in November, according to figures that are not adjusted for seasonal swings. Rising prices are seen as a sign of improving health in the housing market.

Debt Ceiling

With tacit support from President Barack Obama, the GOP-controlled House approved an extension of the debt ceiling Wednesday, heading off an economy-rattling fiscal crisis for at least four months.

The claims report showed the number of people still receiving benefits under regular state programs after an initial week of aid dropped 71,000 to 3.16 million in the week ended Jan. 12.

Balance Sheet

The Fed is slated to purchase $85.0 billion of securities every month, using the full extent of its balance sheet to stimulate the economic recovery. Back in September, the central bank began $40.0 billion in monthly purchases of mortgage-backed securities and refused to allay this trend by supplementing an additional $45.0 billion in Treasury Securities to that pace this month.

Federal Reserve Chairman Ben Bernanke 's unprecedented bond buying provided the impetus to push the Fed 's balance sheet to a staggering record of USD $3.0 trillion, even as he shows no sign of softening his effort to relinquish the 7.8% unemployment.

The Fed said last month it will buy $45 billion a month of Treasury securities starting in January, expanding its asset- purchase program to $85 billion monthly. The central bank may end bond purchases sometime in 2013, some policy makers said, according to minutes of the Dec. 11- Dec. 12 meeting of the Federal Open Market Committee released Jan. 3.

What do the Economic Reports reveal about the state of the economy?

1. Fixed mortgage rates increased this week following positive economic news.
   
   
2. Chicago Fed's national-activity index points to slower economic growth.
   
   
3. Weekly Jobless Claims Keep Up Steady Move Lower.
   
   
4. Sales of existing homes decline 1% in December. US New Home Sales Fall 7.3%.
   
   
5. Store sales in the U.S. declined slightly this week.
   
   
6. Leading Indicators Rise 0.5%, Top Forecasts.
   
   
7. Fed 's balance sheet soars to $3.0 trillion after recent bond buying.
   

1. The material contained on our Website and Economic Calendar must be used at your own risk. Material is believed to be reliable, but we do not guarantee its accuracy or validity, nor is Tradingvesting.com responsible for any errors or omissions which may occur. The analysis and/or recommendations made by Tradingvesting.com do not provide, imply, or otherwise constitute a guarantee of performance. All contents and recommendations are based on data and sources believed to be reliable, but accuracy and completeness cannot be guaranteed. It should not be assumed that future results will be profitable or will equal past performance, real, indicated or implied.Tradingvesting.com website and material contained therein is not a solicitation to participate in the Futures/Stocks/Options Market. This Economic Calendar does not include Earning Releases, Announced Stock Splits, Upcoming Initial Public Offerings with Underwritings or Rating Changes. Tradingvesting.com has attempted to verify the information contained in this calendar. However, any aspect of such info may change without notice. Unless indicated otherwise: economic data is from the U.S and intraday data is at least 20 minutes delayed; all prices are in the local currency; Time is U.S. Eastern Time. Furthermore, there is a very high degree of risk involved in trading.Tradingvesting.com assumes no responsibilities for your trading and investment results, please red our Risk Disclosure.
   
   
2. Tradingvesting.com does not provide investment advice, and does not represent that any of the information or related analysis is accurate or complete at any time. All information on this website are for educational purposes only and are not intended to provide financial advice. Any statements about profits or income, expressed or implied, do not represent a guarantee. Your actual trading may result in losses as no trading system is guaranteed. You accept full responsibilities for your actions, trades, profit or loss, and agree to hold Tradingvesting.com and any authorized distributors of this information harmless in any and all ways. We respect your right to privacy, please click here to view our privacy policy.
   
   
3. U.S. Government Required Disclaimer - Commodity Futures Trading Commission.
   Futures and options trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose. This website is neither a solicitation nor an offer to Buy/Sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this website. The past performance of any trading system or methodology is not necessarily indicative of future results.
   
   
4. CFTC rule 4.41: Hypothetical or simulated performance results have certain limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not been executed, the results may have under-or-over compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profit or losses similar to those shown.
   
   
5. Risk Warning: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts. Our linking to these sites does not constitute an endorsement of any products, services or the information found on them. Once you link to another site you are subject to the policies of the new site. By using this site, you agree to the Terms of Service, Privacy Policy and Risk Disclosure. Copyright 2013 Tradingvesting, LLC. All rights reserved. If you have any questions regarding the Online Economic Calendar application, please contact us: click here.
   
   THIS BRIEF STATEMENT CANNOT, OF COURSE, DISCLOSE ALL THE RISKS AND OTHER ASPECTS OF THE COMMODITY MARKETS AND EQUITY MARKETS. PLEASE READ MORE AT: TERMS OF SERVICE.