The good news? US GDP rose 3.5% QoQ, even though Personal Consumption was lower than expected at 3.6% and lower than September’s growth.
The bad news? New home sales fell 8.9% MoM in October.
New home sales declined 12% YoY, tied for the worst reading since 2011.
Yes, as The Fed withdraws monetary stimulus, homebuilding companies are taking the Nestea plunge.
Support 100% ad-free Biiwii.com by making a donation of your choice!
Or better yet, subscribe to NFTRH Premium for an in-depth weekly market report, interim updates and NFTRH+ chart and trade ideas to get even more bang for your buck. You can also keep up to date with plenty of actionable public content at NFTRH.com by using the email form on the right sidebar. Or follow via Twitter @BiiwiiNFTRH, StockTwits or RSS. Also check out the quality market writers at Biiwii.com.