Don’t look now, but the bottom is falling out of analysts’ estimates of how fast the economy grew from April to June. As recently as Monday, forecasters figured that gross domestic product grew at a 3% to 3.5% rate in the second quarter — not fast enough for anyone to crow about, given that the US economy is producing far below its potential, but at least fast enough that the nation seemed to be gaining economic ground.
Second-quarter growth may look crummy
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Why are exiting home prices rising when sales are still so low?
Existing home sales fell in today’s report, but home prices are still up year over year, even with higher inventory and higher mortgage rates.