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.
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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