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Weekly Economic Perspectives

US Housing Sector Soft Patch Broadens

The soft patch in housing sector data extended this week to new and existing home sales. New home sales dropped 4.7% MoM, a weak showing exacerbated by sizable downward revisions to the prior two months. April sales were 7.7% lower than a year earlier.

Chief Economist
Investment Strategist

US Inventory of New Completed Homes Near 15-Year High

Spotlight on Next Week

  • US consumer spending growth to cool. 
  • Canada Q1 GDP might surprise to the downside.
  • Tokyo CPI to have reaccelerated.
  • Australia’s monthly CPI may surprise to the downside.

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