• New Home Sales Miss Growth Estimates, Trade Imbalance Balloons

    January 28, 2021
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    New Home Sales Miss Growth Estimates, Trade Imbalance Balloons
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    New Home Sales missed estimates in economic data released this morning. Initial and continuing jobless claims were also lower than expected. The trade imbalance grew to disturbing levels.

    The Biden administration will have a honeymoon period of enjoying the delayed effects of actions the Trump administration took to unleash the natural state of the U.S. economy, which is free-market prosperity for all. However, as Biden's new regulations and destruction of the fossil fuel industry take hold, Americans will see a collapse in net worth and income growth.

    It's only a matter of time.

    Core Personal Consumption Expenditures (QoQ)(Q4) PREL printed at 1.4% vs 1.5% consensus estimate.

    Wholesale Inventories(Dec) PREL printed at 0.1%.

    Continuing Jobless Claims (Jan 15) printed at 4.771M vs 5.054M estimate.

    Gross Domestic Product Price Index(Q4) PREL printed at 1.9% vs 2.4% estimate.

    Goods Trade Balance(Dec) PREL printed at -$82.47B.

    Personal Consumption Expenditures Prices (QoQ)(Q4) PREL printed at 1.5% vs 1.8% estimate.

    Initial Jobless Claims(Jan 22) printed at 847k vs 875k estimate.

    Initial Jobless Claims 4-week average(Jan 22) printed at 868k.

    Gross Domestic Product Annualized (Q4) PREL printed at 4%.

    New Home Sales (MoM)(Dec) printed at 0.842M vs 0.865M estimate.

    New Home Sales Change (MoM)(Dec) printed at 1.6% vs 1.9% estimate.

    EIA Natural Gas Storage Change (Jan 22) printed at -128B vs -136B 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."
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