The final reading of the second quarter Gross Domestic Product for the U.S. comes in at a 1.4% growth rate. That’s higher than initial measurements and also higher than expectations. The Fed still wants to see that number in the 2.0-2.5% range. Improvement is improvement, even if the going seems slow.
On the other hand, Pending Home Sales declined 2.4% since last month, where a 1.0% increase was anticipated. Cooler weather and scanty inventory are hampering sales