Varied observers have argued for remaining gross sales to non-public home purchasers as one of the best measure of financial momentum. Nowcasts and monitoring estimates of this indicator solid into doubt prospects for fast progress.
Determine 1: Progress charge q/q annualized for remaining gross sales to non-public home purchasers (darkish purple, left scale), GDPNow (purple sq., left scale), Goldman Sachs (inexperienced x, left scale); degree of annualized remaining gross sales to non-public home purchasers (black, proper log scale), GDPNow (blue sq., proper log scale), Goldman Sachs (inverted inexperienced triangle, proper log scale), all in bn.Ch.2017$ SAAR. Supply: BEA, Atlanta Fed (6/27), Goldman Sachs (6/27), and creator’s calculations.
If Goldman Sachs seems to be right, then momentum can have stalled out.
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