One economic indicator, which is quite close to the U.S. citizen’s heart, is consumer spending, which barely edged up in January as households took advantage of tax cuts to rebuild their savings, suggesting spending would offer only a modest lift to the recovery in the first quarter.
Pending Home Sales Index
Another economic indicator showed the recovery continues to elude the housing sector. The National Association of Realtors Pending Home Sales Index, based on contracts signed in January, fell 2.8 percent. Pending home sales lead existing home sales by a month or two.
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