US Housing, Manufacturing Data Suggest Economic Recovery Slowing

US Housing, Manufacturing Data Suggest Economic Recovery Slowing
A staff member at Food Bank of the Rockies stocks boxes of food in their warehouse to be distributed to people in need ahead of Thanksgiving in Denver, Colo., on Nov. 25, 2020. Kevin Mohatt/Reuters
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Contracts to buy U.S. previously owned homes fell for a second straight month in October as an acute shortage of properties pushed up prices, though the housing market remains supported by record-low mortgage rates.

Other data on Nov. 30 showed activity at factories in the Midwest and Texas slowing, likely as a nationwide resurgence in new COVID-19 infections curbed new orders and disrupted production. The reports support expectations of a sharp slowdown in economic growth in the fourth quarter because of the raging coronavirus pandemic and depleted fiscal stimulus.