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.
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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