U.S. housing market stuck in soft patch; confidence rises

WASHINGTON - U.S. homebuilding tumbled to a more than two-year low in December as construction of both single and multi-family housing declined, the latest indication that the economy had lost momentum in the fourth quarter.

“Regardless, the economy is moderating ... which means the Fed should be able to maintain its cautious approach to monetary policy,” said Joel Naroff, chief economist at Naroff Economic Advisors in Holland, Pennsylvania. The release of the December housing starts and building permits report was delayed by a 35-day partial shutdown of the federal government that ended on Jan. 25. No date has been set for the release of January’s report.

A second report from the Conference Board on Tuesday showed its consumer confidence index increased 9.7 points to a reading of 131.4 in February after being held back by financial market volatility and the government shutdown. Slowing house price inflation was also corroborated by a fourth report from the Federal Housing Finance Agency showing house prices rose 0.3 percent on a monthly basis in December after advancing 0.4 percent in November.

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Global stocks rise on U.S.-China trade hopes; oil up againAn index of stocks across the globe hit a more than four-month high on Wednesday... How many times will the mkt rise on US. VaChina trade hopes? xQc you called it pog
Source: Reuters - 🏆 2. / 97 Read more »

U.S. Campaign Against Huawei Runs Aground in an Exploding Tech MarketThe Chinese company’s low prices outweigh spying concerns for many countries ramping up 5G spending, in particular the pivotal internet economy of India. “The perception here is that the U.S. action is more a matter of foreign policy.” recall Trump just so happened to 'miss' India on his Asia-wide trip. Given the history of the PRC Govt and their policies to interfere, pressurize private enterprises, dealing with any telco products designed, developed and sold by any PRC based organization comes at a very high risk. PMOIndia should not under estimate that risk
Source: WSJ - 🏆 98. / 63 Read more »

Marijuana Market—What's Ahead For The Cannabis Industry In The U.S.Want to learn more about investing in cannabis? Join a conference call Friday with experts from MarketWatch and Barron's, and ask your questions:
Source: MarketWatch - 🏆 3. / 97 Read more »