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Industrial production rose again in April for the third consecutive month, according to Federal Reserve figures issued Wednesday, while separate reports show a decline in new home sales and a smaller gain in retail sales.
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Industrial production in the U.S. rebounded from a drop at the start of the year, as consumer sentiment is the best in more than a decade – but there's a decline reported in parts of the new-home-building market.
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Existing-home sales moved higher for the third straight month in November and reached their strongest pace in almost 11 years, while new construction of single family homes surged to a 10-year high, according to two new reports.
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The U.S. housing market improved in October following some ups and downs earlier in the year, while industrial production jumped in part due to increased manufacturing. And e-commerce retail sales continued booming in the third quarter.
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Home building in the U.S. slowed in September, according to a new report, while a separate one showed that the total amount of output from the nation’s factories, mines and utilities moved higher during the month. Results of both reports would have been better had it not been for two hurricanes.
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Existing-home sales stumbled in August for the fourth time in five months as strained supply levels continue to subdue overall activity. And housing starts fell for the second straight month.
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Housing starts in the U.S. bounced back, according to a new Commerce Department report, but concerns remain about the future of the housing market as well as the wider economy.
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Political uncertainty could be partially to blame for some less-than-stellar economic reports, with show housing starts dropping, consumer confidence slipping, and industrial production stalled.
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A measure of industrial production in the U.S. moved higher despite an easing in manufacturing, while the housing market also gave up some recent gains, according to reports issued Tuesday.
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U.S. manufacturers reported a strong end to 2016, with business conditions improving at the fastest pace since March 2015. And separate reports show consumer prices are rising and housing remains strong, despite a pullback from a multi-year high.
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