US: Home sales and confidence indices, economic growth support

New home sales in the US rose 14% in September, following a 1.4% contraction in August. This reading beat the market's expectation for a 1.5% increase by a wide margin. Further details of the publication revealed that the median selling price increased 18.7% year-on-year to $408,000. Consumer confid...

New home sales in the US rose 14% in September, following a 1.4% contraction in August. This reading beat the market's expectation for a 1.5% increase by a wide margin. Further details of the publication revealed that the median selling price increased 18.7% year-on-year to $408,000. Consumer confidence strengthened to 113.8 in October from 109.8 in September. This reading came in higher than the market's forecast of 108.3. Further details of the publication revealed that the Current Situation Index rose from 144.3 to 147.4 and the Consumer Expectations Index rose from 86.7 to 91.3.

 

While housing market data show that demand is strong, we see the impact of inflation momentum on annual price increases. This has to do with both rising housing costs and the demand impact from lower mortgage rates. Net inventories continue to decrease, so they continue to be supportive in terms of economic growth.

 

In the confidence index, the easing of concerns about the spread of the Delta variant is effective in reversing the downtrend. The increase in consumers' willingness to travel and spend on in-person services is evidence of a reduction in Delta concerns. Therefore, we can say that the economic situation indicators are clearly good. Concerning short-term inflation expectations, we see that the peak of 13 years has been reached. The proportion of consumers planning to buy houses, automobiles and white goods increased in October. In fact, this is a sign that durable consumption expenditures will be supportive in terms of economic growth. There does not appear to be a significant problem at the level of demand in the economy for now.

Kaynak Tera Yatırım-Enver Erkan
Hibya Haber Ajansı

26 Eki 2021 - 18:22 - Dünya


göndermek için kutuyu işaretleyin

Yorum yazarak RHA AJANS Topluluk Kuralları’nı kabul etmiş bulunuyor ve yorumunuzla ilgili doğrudan veya dolaylı tüm sorumluluğu tek başınıza üstleniyorsunuz. Yazılan yorumlardan RHA AJANS hiçbir şekilde sorumlu tutulamaz.

Anadolu Ajansı (AA), İhlas Haber Ajansı (İHA), Demirören Haber Ajansı (DHA) tarafından servis edilen tüm haberler RHA AJANS editörlerinin hiçbir editöryel müdahalesi olmadan, ajans kanallarından geldiği şekliyle yayınlanmaktadır. Sitemize ajanslar üzerinden aktarılan haberlerin hukuki muhatabı RHA AJANS değil haberi geçen ajanstır.