No. 933: Dollar Turmoil, Fourth-Quarter GDP, New Orders, Freight Index, Home Sales

(SGS Subscription required) • As the U.S. Dollar Weakens, and Gold and Oil Prices Jump, Watch Out for the Stock Market!
• The Worst Trade Deficit Since 2017 Clobbered Fourth-Quarter GDP; Deteriorating Net Exports Knocked 1.13% (-1.13%) Off Quarterly Growth
• Fourth- Versus Third-Quarter Real GDP Growth Slowed to 2.55% from 3.16%, with Inventory Liquidation and a Soaring Trade Deficit Offsetting Some of the Gains from Surging Defense Spending and Disaster-Boosted Demand for Goods and Structures
• Net of Trade and Inventories, Fourth- Versus Third-Quarter Real GDP Growth Jumped to 4.35% from 2.01%
• Better-Quality Economic Measures Still Show No Full Recovery from the Recession: U.S. Durable Goods Orders, Freight Activity and Manufacturing All Have Completed a Full Decade of No Economic Expansion
• Defense Spending Boosted December Durable Goods Orders Sharply
• Faltering Consumer Outlook
• Foreclosures Appear to Be on the Rise, as Existing-Home Sales Sink Anew
• On Top of Sharp Downside Revisions to November Home Sales, December Activity Plunged Monthly by 9.3% (-9.3%) and by 3.6% (-3.6%) for New and Existing Homes, Shy of Respective Pre-Recession Peaks by 55.0% (-55.0%) and 23.4% (-23.4%)

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