Confidence among U.S. single-family homebuilders improved for a fourth straight month in April as a dearth of previously owned homes and falling mortgage rates boosted demand for new houses, but a shortage of building materials remained a challenge.
Other data on Monday showed manufacturing activity in New York state increased for the first time in five months. Housing and manufacturing have been hammered by the Federal Reserve's fastest interest rate hiking campaign since the 1980s.
Mortgage rates have been dropping on views that the Fed's current monetary policy tightening cycle could be drawing to a close. Residential investment has contracted for seven straight quarters, the longest such streak since the collapse of the housing bubble triggered by the 2007-2009 Great Recession.
Economists had forecast the index would be at -18.0. A reading above zero signals the New York state manufacturing sector is growing.The rebound is an encouraging sign for national manufacturing activity, which has also been undermined by the rotation of spending back to services from goods.that manufacturing output rose at a 0.3% annualized rate in the first quarter after declining at a 3.1% pace in the October-December period.
Argentina Últimas Noticias, Argentina Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
See all homes sold in these New Jersey counties, April 3 to April 10Real estate transfers in New Jersey counties reported from April 3 to April 10.
Leer más »
EUR/USD: Weekly Forecast 16th April - 22th AprilThe EUR/USD will start the week near the 1.09930 mark, which is a price that has last seen sustained values in March and April of 2022.
Leer más »
UK government scraps all smart motorway plans | Autocar“All drivers deserve to have confidence in the roads they use to get around the country.' - Rishi Sunak
Leer más »
ALICE are full of confidence and ready to 'Show Down' in comeback MV teaser | allkpopMembers of ALICE are full of confidence and ready to 'Show Down' in the teaser for their upcoming comeback music video. Girl group from IOK w…
Leer más »
LAUSD's after-school program 'Young Shakespeareans' helps students build confidence and experienceLAUSD elementary and middle school students are building confidence by performing Shakespeare's comedy 'A Midsummer Nights Dream' at West Vernon Avenue Elementary School in South L.A.
Leer más »