GDP and New Homes Sales

Two quick economic reports to mention this morning. Q3 GDP was revised to unchanged. The government says the economy grew by 3.5% during the third quarter of this year. Even down to the decimal, this report was barely changed. This report will be revised again in late December.

Now economists are looking at growth for Q4. My guess is something around 2.5%.

The new-homes sales report showed that there were 544,000 new homes sales last month (that’s an annualized number). This is down 12% from a year ago. The previous months were revised higher. There’s a good chance that new-home sales will be down for 2018.

Here’s a link to Jay Powell’s address at the Economic Club of New York. It’s long but covers the Fed’s thinking.

Posted by on November 28th, 2018 at 12:23 pm


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