One way to interpret it is that sellers may have only been willing to sell if they got the prices they were expecting. Fewer got that, so there were less actual transactions as prices continued to rise.
More Quotes from Dean Maki:
Labor market weakness isn't spreading from the hurricane- affected areas to other areas of the country. We are starting to see hurricane-related claims drop off, and more important for the economic outlook, jobless claims excluding the hurricane effects remain low.Dean Maki
It looks like a temporary move lower. It appears that imports were affected by the timing of holidays in Asia.
Dean Maki
The strength across all labor-market indicators does suggest the Fed will likely raise rates in March.
Dean Maki
Even though foreign economies are strengthening, it won't be enough strength to reverse the trend in trade, and we're likely to see further deterioration.
Dean Maki
This trade number doesn't change that at all.
Dean Maki
You would need a dramatic slowdown in domestic U.S. demand to bring down the U.S. trade deficit, and we think that is unlikely.
Dean Maki
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