Tag Archives: New Home Sales

Recap of Today’s Economic Data

There was a significant amount of economic data released today in advance of the Christmas holiday. There were no major surprises with 3 data points missing consensus, 2 came in at consensus and 1 exceeded consensus. The 3 missed were by a slim margin. The markets are mostly flat on the news.

Typically headlines focus on year-over-year (Y/Y) and (or) month-over-month (M/M) changes. While this is an important view I also like to consider the absolute level. I will do so in the following charts. Read more of this post

Bad Time for Bad News

If you have been following the financial news lately you have likely noticed an uptick of dismal reports. Just this week we have seen stories on the Fed’s debate on how to simulate a sluggish economy, a slowdown in capital spending and the lowest level of existing homes sales in 15 years. The market has definitely noticed with the S&P 500 falling four out of the last five days and losing 3.5% over the period.

Today’s data are definitely no exception. First, new orders for durable goods were up .3% over the prior month. The consensus estimate was for a 2.5% rise. Also, as can be seen in the chart below the yearly trend is rolling over from its rebound in 2009.

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