Economic Data Shows Explosive Growth Off COVID-19 Lockdown Bottom...Pending Home Sales Off The Charts

June 29, 2020

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Economic Data Shows Explosive Growth Off COVID-19 Lockdown Bottom...Pending Home Sales Off The Charts — *Image by Corey Coyle*

Economic indicators released this morning continue to show a recovering American economy, no matter what the Leftist business media wants to tell you. Pending home sales blew away the estimates, showing robust demand for homes with record low interest rates spurring transactions.

The Dallas Fed Manufacturing Index also showed robust economic activity.

"This has been a spectacular recovery for contract signings, and goes to show the resiliency of American consumers and their evergreen desire for homeownership,” said Lawrence Yun, NAR’s chief economist, reported Zero Hedge.

“This bounce back also speaks to how the housing sector could lead the way for a broader economic recovery.”

In other news, the COVID-19 'second wave' is being completely hyped as expected by the corrupt media.

1/ Houston, TX hospital capacity update:

“What you’ve been hearing is a report that we are at 97% or so capacity...Exactly one year ago, it was at 95%. It is completely normal for us to have ICU capacities that run in the 80s - 90s. That’s how all of us operate hospitals...”
— Aaron Ginn (@aginnt) June 29, 2020

Pending Home Sales (YoY) (May) printed at -5.1% vs -44.6% consensus estimate.

Pending Home Sales (MoM) (May) printed at 44.3% vs 19.7% estimate.

Dallas Fed Manufacturing Business Index printed at -6.1 vs -59 estimate.

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CDM Staff

The mission at Creative Destruction Media is to be the catalyst for the "process of industrial mutation that incessantly revolutionizes the economic structure from within, incessantly destroying the old one, incessantly creating a new one."