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UPDATE: Pending Home Sales Fall/Trade Deficit Beats Estimates Again for December, Continuing Trend

Trade Deficit Beats Estimates Again for December, Continuing Trend
LONGSHOREMAN UNLOADS CARGO AT DUNDALK MARINE TERMINAL, A MARYLAND PORT AUTHORITY FACILITY, IN BALTIMORE HARBOR

UPDATE: Pending home sales fall due to lack of inventory

Pending Home Sales (MoM) (Dec) printed at -4.9% vs consensus estimate of 0.5% rise.

December is historically the slowest month of the year in the housing market. Despite the month-to-month drop, though, 2019 ended up slightly stronger than the year before. Pending home sales were 4.6% higher last month than in December 2018, according to the National Association of Realtors, reported CNBC.

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The monthly trade balance of the United States continued to show improvement in December, beating economist’s consensus estimates. The development comes at the beginning of the coronavirus crisis, which could be a significant turning point in US trade data with China.

President Trump has made the rationalization of American international trade a hallmark of his presidency, reversing decades of complicit complacency by Republican and Democratic administrations alike.

US Goods Trade Balance (Dec) printed at -$68.33B vs -$68.75B consensus estimate.

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2 comments

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2fred January 30, 2020 at 2:26 am

Of a truth – while the halls of Congress are filled with contempt for rules of evidence –

“…decades of complicit complacency by Republican and Democratic administrations alike…”

The World Turned Upside Down

Listen to me and you shall hear, truths reversed by 2016 election year:
With Nixon, Clinton, Barry, and many more, you never heard the like before.
Deplorables were despis’d, depridations devis’d.
Industrial America is coming back to Town.
Yet not be content; not the future lament, as you see the world turning right-side up.

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Despite Impeachment, Virus, You Name It, GDP Q4 Comes In At 2.1% January 30, 2020 at 8:06 pm

[…] UPDATE: Pending Home Sales Fall/Trade Deficit Beats Estimates Again for December, Continuing Trend […]

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