Recent Updates
- Austria: CPI (Sep), HICP (Sep-Press)
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- Finland: Bankruptcy Filings (Sep)
- Estonia: Nonresidential Permits and Construction, Dwelling Permits & Completions (Q3), Motor Vehicle Registrations (Sep); Kazakhstan: Foreign Trade, Export by Commodity (Aug); Ukraine: Production of Main Agricultural Products (Sep)
- Japan: Visitor Arrivals (Sep-Prelim), Construction Works Put in
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Economy in Brief
U.S. Home Builder Index Improves, but Remains Below Last Year's High
The Composite Housing Market Index from the NAHB-Wells Fargo inched up during October to 68 from an unrevised 67 in September...
U.S. JOLTS: Job Openings Rate Hits Another Record
The Bureau of Labor Statistics reported that the total job openings rate rose to a record 4.6% in August...
U.S. Gasoline and Crude Oil Prices Ease; Natural Gas Prices Increase
Gasoline prices slipped to an average $2.88 per gallon last week (+15.7% y/y)...
Macroeconomic Assessments by ZEW Experts Continue to Sink
Financial experts responding in the ZEW economic survey found current conditions weaker just about across the board...
U.S. Retail Sales Post Disappointing Increase
Total retail sales improved 0.1% (4.7% y/y) during September...
by Tom Moeller September 19, 2005
The National Association of Home Builders' (NAHB) Composite Housing Market Index fell for the third straight month in September to 65 from an unrevised 67 in August. The latest was the lowest level since July 2003.
During the last twenty years, year to year changes in the annual composite index had an 85% correlation with the change in single family housing starts.
The m/m decline was spread throughout the country.
The September index for sales of single family homes in six months fell sharply to 69 (-8.0% y/y) while the index for current sales fell moderately to 72 (-1.4% y/y).
The NAHB index is a diffusion index based on a survey of builders. Readings above 50 signal that more builders view conditions as good than poor.
Visit the National Association of Home Builders.
| Nat'l Association of Home Builders | Sept | Aug | Sept '04 | 2004 | 2003 | 2002 |
|---|---|---|---|---|---|---|
| Composite Housing Market Index | 65 | 67 | 67 | 68 | 64 | 61 |
