Sep 2, 2010
3:23:00 PM
| Last Updated
CORE OBSERVATIONS
- Pending home sales rebounded by 5.2% m/m in July. As economic recoveries have historically been led by construction and housing investments, the troubled housing sector and its impact on economic growth continue to worry many economists, including our U.S. macro team at RGE. Any signs of recovery will certainly be taken well by the markets. However, we warn that the underlying fundamentals for the housing sector remain challenged.
- The bounce comes from a very low level. In the previous two months pending home sales contracted significantly by 29.9% m/m in May and[...]
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