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, home building companies are taking the Nestea plunge.