- US: IIP (Q4)
- Zambia: BOP (Q4); Israel: Credit Card Purchases (Feb); UAE: CPI (Feb); Saudi Arabia: GDP (Q4-Prelim)
- Hungary: Employment (Feb); Bulgaria: Business Survey (Mar); Kazakhstan: Consolidated Budget (Feb)
- Sweden: Consumer Confidence, Business Tendency Survey, Public Finance (Mar); Iceland: PPI (Feb)
- Spain: Mortgage Market (Jan), Order Book Forecast (Mar)
- Italy: ISTAT Business & Consumer Survey (Mar)
- more updates...
Economy in Brief
U.S. Energy Product Prices Remain Under Pressure
Regular gasoline prices held steady at $2.32 per gallon last week (12.1% y/y) for the third straight week...
German Federal Debt Levels Fall
German debt level fell outright in Q4 2016 as the ratio of federal debt-to-GDP also fell...
NABE 2018 Forecast: Modest Improvement in Economic Growth & Higher Inflation
The NABE expects 2.5% real U.S. economic growth in 2018 compared to 2.3% forecast for 2017...
Texas Factory Sector Activity Remains Strong
The Dallas Fed indicated in its Texas Manufacturing Outlook Survey that the General Business Activity Index eased during March...
EMU Money and Credit Growth Are Less Than Impressive Than Euro-PMIs
EMU nominal money supply growth is slightly higher over three months, but credit growth in the EMU is slower...
Durable Goods Orders Strengthened by Another Jump in Aircraft
New orders for durable goods rose 1.7% (5.0% y/y) during February...
by Tom Moeller March 15, 2017
The Composite Housing Market Index from the National Association of Home Builders-Wells Fargo jumped 9.2% to 71 during March (22.4% y/y) following two months of decline. It was the highest reading since June 2005. The NAHB figures are seasonally adjusted. During the last ten years, there has been a 72% correlation between the y/y change in the home builders index and the y/y change in housing starts.
The index of present conditions in the housing market recovered 9.9% to 78 (20.0% y/y). The index for conditions in the next six months improved 6.8% to 78 (27.9% y /y).
Home builders reported that the traffic index jumped 17.4% to 54 (25.6% y/y), the highest level since July 2005.
Amongst the regional indexes, the index for the Northeast improved 35.9% (15.2% y/y). For the South, the index recovered 12.5% (22.0% y/y). In the Midwest, the index rose 14.1% (23.7% y/y). The index for the West nudged 1.3% higher (14.9% y/y).
The NAHB has compiled the Housing Market Index since 1985. It reflects survey questions asking builders to rate market conditions as "good," "fair," "poor" or "very high" to "very low." The figure is thus a diffusion index with numerical results six over 50 indicating a predominance of "good" readings. The weights assigned to the individual index components are .5920 for single-family detached sales, present time, .1358 for single-family detached sales, next months and .2722 for traffic of prospective buyers. The results are included in Haver's SURVEYS database. The expectations figure is available in Haver's MMSAMER database.
|National Association of Home Builders||Mar||Feb||Jan||Mar'16||2016||2015||2014|
|Composite Housing Market Index, SA (All Good=100)||71||65||67||58||61||59||52|
|Single-Family Sales: Present||78||71||72||65||67||64||56|
|Single-Family Sales: Next Six Months||78||73||76||61||67||66||61|
|Traffic of Prospective Buyers||54||46||51||43||45||43||39|