Housing starts were higher by 0.9 percent in August in US, as per seasonally-adjusted data. The housing data was lower than expected by market experts as multi-family home starts were lower. The single-family housing market is still recovering, which is a good sign for economy.
The industrial production increased by 0.4% during August, slightly lower than analyst expectations. However, comparing the data for last six months, the manufacturing rose by the highest margin. As per analyst estimates, the factory output was expected to rise by 0.5 percent.
Homebuilder confidence has improved to reach the highest level in eight years. The NAHB/ Wells Fargo Housing Market Index has touched 59 in August from a low of 56 in July. The continued improvement in the sentiment has been helped by the rising house prices in many states across the country.
China reported better than expected exports and imports, pointing towards stability in the second largest economy in the world. The trade figures from China are important and indicate surge in external demand and increase in domestic consumption in China. During July, the exports were higher by 5.1 per cent compared to fall of 3.1 per cent during June.
Good News USA
- Vodafone NZ’s new ‘Red Home’ packages will offer UFB and 150 TV channels
- Vodafone NZ’s full-year profit plunged by more than two-thirds to $56 million
- Vodafone adding 34 European countries to ‘AU$5 per day’ international roaming option
- Telstra launches its new ‘Every Day Connect Data Share Packages’
- Voyager signs “multimillion-dollar deal” with submarine cable group Hawaiki