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Data Continues To Show Massive Outflow From Cities To Homes In Suburbs

July 24, 2020
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Data Continues To Show Massive Outflow From Cities To Homes In Suburbs
Image by YvesSch

Markets are selling off today on continued worries over a new cold war with China as the Chinese Communist Party ordered the closure of the American consulate in Chengdu this morning in a tit-for-tat measure.

Economic data showed a massive spike in new home sales as Americans flee Democratic Party controlled cities where mayhem and criminality rein.

Tech shares are continuing their downward slide as the DOJ prepares possible anti-trust measures agains big tech censorship and market power.

Markit Manufacturing PMI (Jul) PREL printed at 51.3 vs 51.5 consensus estimate.

Markit Services PMI (Jul) PREL printed at 49.6 vs 51 estimate.

Markit PMI Composite (Jul) PREL printed at 50.

New Home Sales (MoM) (Jun) printed at 0.776M vs 0.7M estimate.

New Home Sales Change (MoM) (Jun) printed at 13.8% vs 4% estimate.

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CD Media 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."
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