Week's indicators show economy is strengthening Metro Edition

Housing's sustained boom reflects 30-year fixed mortgage rates that are close to the lowest in three decades. New home sales reached a record 1.054 million at an annual rate in September, adding to builders' backlogs. That may keep home building strong through the first half of 2003, econo...

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Bibliographic Details
Published inMilwaukee journal sentinel
Main Author VINCE GOLLE AND ALEX TANZI
Format Newspaper Article
LanguageEnglish
Published Milwaukee, Wis Journal Sentinel Inc 16.12.2002
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Summary:Housing's sustained boom reflects 30-year fixed mortgage rates that are close to the lowest in three decades. New home sales reached a record 1.054 million at an annual rate in September, adding to builders' backlogs. That may keep home building strong through the first half of 2003, economists said. Washington -- Home construction rose in November and manufacturing rebounded as the U.S. economy gained strength heading into 2003, government reports are likely to show this week.Construction starts of new homes rose 4.8% to a 1.68 million annual rate, Commerce Department statistics will probably show Tuesday, according to economists surveyed by Bloomberg News. Industrial production probably increased 0.2%, the first rise since July, economists say the Federal Reserve also will report on Tuesday.
ISSN:1082-8850