Global Analysis from the European Perspective. Preparing for the world of tomorrow

Cold weather chills new U.S. home sales; current account deficit soars in 2020

 Sales of new U.S. single-family homes fell to a nine-month low in February amid bitterly cold weather, and expensive lumber and rising mortgage rates could cool the housing market this year.  Separately on Tuesday, the Commerce Department said the current account deficit, which measures the flow of goods, services and investments into and out of the country, surged 34.8% to a 12-year high of $647.2 billion in 2020 as the pandemic severely disrupted exports. Source Reuters

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