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Wednesday, August 31, 2016

US July pending home sales +1.3% vs +0.7% m/m expected

  • Prior was +0.2% m/m (revised to -0.8%)
  • Sales -2.2% y/y vs +2.2% exp
  • Prior y/y reading was +0.3% (revised to -0.7%)
The downward revisions to the prior make this much worse than it first appears.
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