In November, Britain experienced a higher-than-expected budget deficit, with government borrowing reaching £14.3 billion, which was £1-2 billion above market forecasts, indicating limited room for Prime Minister Rishi Sunak's government to implement pre-election tax cuts. Additionally, the estimate of debt-to-GDP was revised down. British retail sales outperformed with a 1.3% increase, boosted by Black Friday, suggesting a slightly overperforming retail sector. In contrast, US new home sales in November crashed to 590K, a sharp drop from the previous 679K, and a 12.2% month-over-month decrease, particularly with a significant decline in the South, signaling challenges in the housing market's recovery.
US new home sales fall to one-year low in November https://t.co/zor9OEN2Fp https://t.co/Ac3Pn8UHyW
New home sales plunged in November https://t.co/kWAZgNxhOp via @CNNBusiness https://t.co/eSwbz053RX
New home sales unexpectedly plunge to one-year low in November https://t.co/MhT4kXXsPU https://t.co/WVkKBnj9ts
New Home Sales decrease to 590,000 Annual Rate in November; Average New Home Price is Down 14% from the Peak https://t.co/0fsdroLUVI https://t.co/i0t9WER8bI
US new home sales slow more than expected in November https://t.co/u09TocQtHg
⚠️ US NEW HOME SALES FALL TO ONE-YEAR LOW IN NOVEMBER Sales of new U.S. single-family homes dropped to a one-year low in November, but the unexpected decline is probably temporary amid a chronic shortage of previously owned homes, which has been supporting demand for new… https://t.co/wNTHwxU78D
New-home sales in the US unexpectedly slumped in November, led by a sharp drop in the South and suggesting a bumpy road to recovery for the housing market https://t.co/YipFZmwVF7
U.S NEW HOME SALES (NOV) ACTUAL: 590K VS 679K PREVIOUS; EST 695K U.S NEW HOME SALES (MOM) (NOV) ACTUAL: -12.2% VS -5.6% PREVIOUS
US New Home Sales Crash In November, Despite Plunging Rates https://t.co/CN0rRhbZYc
New Home Sales Sank Unexpectedly in November https://t.co/N8sRDnEAS8
🔴 US NEW HOME SALES NOVEMBER 2023 REPORT https://t.co/NtOnr33Q61
🎁 Black Friday discounts drive higher than expected retail sales https://t.co/W0GDc55YNn
Black Friday boosts retailers with sales surging in November despite fears of a tough Christmas for many shops https://t.co/3SwNH7OPxS https://t.co/8LwcvsIrJ0
British retail sales rise 1.3% in November, beating forecasts https://t.co/x2WiD8pESA https://t.co/R3Mb5wmIAz
Retail sales jump 1.3% in November in boost to struggling high street https://t.co/sAaMCmXLNg
British retail sales beat forecasts ahead of key Christmas period https://t.co/6OghBcFPt5
🔴 UK RETAIL SALES NOVEMBER 2023 FULL REPORT https://t.co/0tqgeF0ATj
The @Zondahome New Home Market Update report for November showed that sales outpaced seasonality for the month. Our market ranking classifies the housing market as slightly overperforming. https://t.co/OSVlG7WZ8h
Housing market update The housing market started improving in November, but it’ll need to go a LOT further https://t.co/c7me3AxsEp
Government borrowing and debt grew in November, official figures showed, casting doubt on the likelihood of one of the prime minister's key pledges. 🔗 Read more https://t.co/S44h67d3SA
Join Ian King and guests as the government borrowing and debt grew in November, official figures showed, casting doubt on the likelihood of one of the prime minister's key pledges More 👉 https://t.co/dxCSqXbmGI https://t.co/gXphUDbp05
UK government borrows £14.3 billion in November, surpassing expectations https://t.co/NXktrFaNTb https://t.co/IBt3WyKWUk
Britain ran up a higher-than-expected budget deficit in November and borrowing in previous months was revised higher too, underscoring the limited room for pre-election tax cuts by Prime Minister Rishi Sunak's government https://t.co/mhKVJfe3gK
Britain ran up a higher-than-expected budget deficit in November and borrowing in previous months was revised higher too, underscoring the limited room for pre-election tax cuts by Prime Minister Rishi Sunak's government. More here: https://t.co/5H1xJJ8YXu
FYI, UK government #borrowing of £14.3bn in November was £1-2bn more than the market forecasts, but this is well within the usual margin of error and likely revisions. More interesting (to me at least 🤓) was that the estimate of #debt/GDP was revised down again, mainly…