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Free AccessJefferies economist Tom Simons said...>
US DATA REACT: Jefferies economist Tom Simons said today's October NAHB/Wells
Fargo housing market index "rose to a reading of 68 from an unrevised reading of
64 in September. The data release is stronger than expected, as the consensus
forecast was for no change from the original September release of 64. This is
the highest reading in the NAHB Index since May 2017."
- He adds the NAHB said "in September, the hurricanes in the Gulf States
"intensified our members' concerns about the availability of labor and the costs
of building materials". And now "with some time having passed, the NAHB reports
that most homebuilders view the market as on-track to return to its pre-storm
state. Robert Dietz, the chief economist of the NAHB, noted tight inventories
and growth in household formations as reasons for optimism."
To read the full story
Sign up now for free trial access to this content.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.