Posts Tagged ‘new home sales’

New Home Sales Down Again

New home sales took it on the chin again. Sales fell 10.2% in January to a seasonally adjusted rate of 309,000 units. This represented a drop of 48.2% from January 2008. Inventories of new homes fell 3.1% to 342,000 which represents a 13.3 month supply of homes. At least the builders aren’t adding to supply. […]

New Home Starts And Industrial Output Weak Again

Lots of stuff going on today, so, time permitting, I hope to post quite a bit. First, let’s dispense with the two big economic reports. Industrial output was down 1.8% in January and capacity utilization fell to 72% from 73.3% in December. No sub-sector reported a growth in output save for utilities who boosted energy […]

Housing A Little Better. Auto Sales Still Grim

The auto industry posted more bleak numbers for the month of January while the housing industry surprised with a bit of an upbeat report. First, auto sales were once again dismal, In fact, some reports suggest that for the first time ever, China surpassed the U.S. in monthly sales. Here are the figures for those […]

Bad News Trifecta

No good news in the economic numbers today. Durable goods orders dropped for the fifth consecutive month. Excluding transportation and military expenditures, they were down 4.9% from last month. For 2008 orders were down 5.7%. That number includes transportation and military related expenditures. The four week moving average of new unemployment claims rose by 24,250 […]