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U.S. Confidence, Home Sales Drops Underscore Risks to Growth

Sales of new U.S. homes fall to a five-month low, adding to signs of weakness despite lower mortgage rates.

By Katia Dmitrieva, Reade Pickert and Ryan Haar | June 26, 2019 at 10:14 AM
Home for sale. Home for sale. (Source: Shutterstock)

Data from across the U.S. economy this week highlighted the risks to growth amid rising trade tensions and pressure on the Federal Reserve to cut interest rates.

While it may still be too early to say growth is stalling — previous data showed pickups in May retail sales and factory output – the latest figures join weaker readings on jobs and other signs President Donald Trump’s trade policies are weighing on an expansion on the verge of becoming the longest in U.S. history. Tariffs are spurring potential hesitance on the part of consumers, whose spending accounts for the majority of gross domestic product.

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