Construction spending fell an unexpected 1.8 percent in June, but the previous month’s data was upwardly revised. Single-family outlays posted its second-straight negative reading. Nonresidential was also weak
Single-Family Adding to Negative Housing Reports
The often-revised construction spending monthly headline […]
Tag: Wells Fargo Securities Group
Wells Fargo Reports: Employment Costs Accelerate in Q2
Propelled higher by solid gains in wages & salaries and benefit costs, the Employment Cost Index (ECI) increased a stronger-than-expected 0.7 percent in the second quarter. The Fed will notice this pickup.
Wages & Benefit Costs Jump
Following a soft Q1 […]
Wells Fargo Reports: Construction Spending Continues to Bounce Back
Construction spending rose 0.6 percent in August, and the prior month’s gain was revised up to 1.4 percent. The data point to solid gains in residential and nonresidential construction during the third quarter.
The Housing Recovery Remains On Track
Fears that this […]
Wells Fargo Reports: New Home Sales Rise Solidly in June
New home sales rose 8.3 percent in June, helping offset earlier disappointment in existing home sales. While new home sales for the prior two months were revised slightly lower, June’s pace still topped most estimates
By Mark Vitner, Senior Economist and
Anaika […]
Wells Fargo Reports: Housing Starts Plunge in April as Weather Holds Back Activity
After a blowout report in March, starts plunged 16.5 percent in April, with both single- and multifamily starts tumbling. Permits rose sharply, however, and builders sound downright giddy about sales prospects.
April’s 16.5 percent plunge in housing starts is less […]