Confidence among U.S. homebuilders
climbed in August to the highest level in more than five years,
affirming the improvement in residential construction.
The National Association of Home Builders/Wells Fargo
builder confidence index rose to 37, higher than projected and
the best showing since February 2007, according to figures from
the Washington-based group released today. The median forecast
in a Bloomberg survey of economists called for no change from
July’s 35. Readings below 50 mean more respondents said
conditions were poor.
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