1/4: METROINTELLIGENCE ECONOMIC UPDATE P.DUFFY

November construction spending rose 0.8 percent to all-time high of $1.257 trillion

November construction spending rose 0.8 percent to an all-time high annual rate of $1.257 trillion, with private residential projects soaring 1.0 percent to the highest level since February 2007.  This increase was in line with a recent jump in homebuilding and supports the view that housing would boost economic growth in the fourth quarter after being a drag to gross domestic product since the April-June period.

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November CoreLogic HPI: Home prices up 1 percent from October and 7 percent year-on-year

According to the CoreLogic HPI, home prices nationally increased year over year by 7 percent from November 2016 to November 2017, and on a month-over-month basis home prices increased by 1 percent in November 2017 compared with October 2017.

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IHS Markit PMI: December manufacturing index up to highest level since March 2015

The seasonally adjusted IHS Markit final US Manufacturing Purchasing Managers’ Index™ (PMI™) registered 55.1 in December, up from 53.9 in November. The latest index reading was the highest since March 2015 and signalled a solid improvement in the health of the sector. December data also rounded off the strongest quarterly performance since the start of 2015.

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