The numbers: The construction industry’s outlook continued to improve in October, according to research from a trade group released Monday.
Index readings over 50 are a sign of improving confidence. The index dropped below 50 in April and May as concerns related to the pandemic intensified. “New single-family home sales are outpacing starts by a historic margin,” Robert Dietz, chief economist at the National Association of Home Builders, said in the report. “Bridging this gap will require either a gain in construction volume or reductions in available inventory, which is already at a historic low in terms of month’s supply.”
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