Single-family housing production remained steady in September as strong demand helped offset rising building material prices exacerbated by supply chain disruptions, especially with lumber.
U.S. equities turned in a terrific week, as Wall Street reacted favorably to much better-than-expected earnings reports and less negative economic data.
The Purchasing Managers’ Index (PMI) is an index of the prevailing direction of economic trends in the manufacturing and service sectors based on surveys collected from thousands of companies.
Durable goods orders are new orders placed with domestic manufacturers for factory hard goods.
The markets endured a rocky week, declining more than 3% early in the week before slowly rallying to end the week with modest gains.
On Tuesday, the Bureau of Labor Statistics reported that the Consumer Price Index for All Urban Consumers increased 0.3% in August on a seasonally adjusted basis after rising 0.5% in July.