While consumer confidence has followed a volatile path along the year, the real estate sector not done anything but give good news in U.S. This time, the housing prices of the 20 largest cities in September experienced its largest year increase since February 2006 , while building permits rose in October to its highest level since June 2008.
The S & P / Case- Shiller index of property values , rose 13.3% in the ninth month of the year compared to the same period in 2012 , exceeding the 12.8% increase in August and 13% pointing to the polls. Meanwhile , applications for new construction rose 6.2 % last month to an annualized rate of 1.03 million , also exceeding estimates .
"Housing will continue to contribute to growth," said Brian Jones , an economist at Societe Generale , explaining that while the industry was faced with a rise in the interest rate , this increase was not " meshing enough to drown " that market.
Volatile confidence
In counterpart, consumer confidence unexpectedly fell in November to a seven-month low . The Conference Board index gave up 70.4 points from 72.4 the previous month, falling short of forecasts for a rise to 72.6 integers.
According to Jacob Oubina , an economist at RBC Capital Markets , the decline is because " the labor market remains a major challenge", which generated doubts in people 's uncertainty in fiscal policy added .
No comments:
Post a Comment