THE BASIS POINT

Pending Home Sales up.

 

Pending Home Sales Index (May 2015)

– Pending Home Sales Index month/month   112.6. Previous was revised from 112.4 to 111.6.
These are existing homes which are in contract for sale but have not yet closed. The downward revision to the previous month makes for a rather large gain.

 

Dallas Federal Reserve Manufacturing Survey  (June 2014)

– General Activity Index  -7.0. Previous was -20.8.
– Production Index   -6.5. Previous was  -13.5.

This is a monthly survey of manufacturers in Texas. It includes the oil business which has seen considerable falloff since crude prices dropped.

 

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