THE BASIS POINT

New Home Sales down for August.

 

New Home Sales (August 2016)

– New Home Sales seasonally adjusted, annualized 609,000. Previous was 659,000

New Home Sales have been a plus in 2016 with builders finally gaining the confidence that they would sell homes they could build.

 

Dallas Federal Reserve Manufacturing Survey (September 2016)

– Production Index 16.7. Previous was 4.5
– General Activity Index -3.7. Previous was -6.2

Manufacturing includes mining and oil extraction. Current production rose sharply but the General Activity Index was negative for the 21st consecutive month.

 

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