Buying conditions for durable goods saw the steepest drop, falling 19%, largely driven by concerns over potential tariff-induced price increases. Expectations for personal finances and the short-term economic outlook each slipped nearly 10%, while the long-term outlook declined by 6%, hitting its lowest point since November 2023.
Inflation expectations added to the downbeat mood, with year-ahead inflation rising to 4.3%, up from 3.3% in January. Long-run expectations also climbed from 3.2% to 3.5%, the largest monthly increase since May 2021. The inflation outlook’s deterioration was widespread, impacting most demographics and political groups.
Existing-Home Sales Slide in January
The U.S. housing market presented a mixed picture in January. Existing-home sales fell 4.9% from December to an annualized rate of 4.08 million units, as per NAR data. However, sales rose 2.0% year-over-year, marking the fourth consecutive…
Read More
