Homebuilding Growing but at Slower pace.

Empire State Manufacturing Survey (February 2016)

– General Business Conditions Index -16.64.  Previous was -19.37

This is a survey index taken by the New York Federal Reserve.  Really it is a relic from a time when New York – The Empire State – was important to manufacturing.

 
Housing Market Index (February 2016)

– Housing Market Index 58. Previous was 60.

If this index is accurate the Housing Market is still expanding but at a slower pace.

This is a survey index of homebuilders taken by The National Association of Home Builders.

This is a diffusion index meaning that a reading of 50 indicates no change, anything over 50 indicates improvement, anything under 50 indicates contraction.