8/24: METROINTELLIGENCE ECONOMIC UPDATE

July new home sales down 9.4 percent from June and 8.9 percent year-on-year

Sales of new single-family houses in July 2017 were at a seasonally adjusted annual rate of 571,000. This is 9.4 percent below the revised June rate of 630,000 and is 8.9 percent below the July 2016 estimate of 627,000.

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FHFA: House prices up 1.6 percent in 2Q 2017 and 6.6 percent year-on-year

U.S. house prices rose 1.6 percent in the second quarter of 2017 according to the Federal Housing Finance Agency (FHFA) House Price Index (HPI). House prices rose 6.6 percent from the second quarter of 2016 to the second quarter of 2017.

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Markit Flash shows sharp increase in U.S. business activity for August

US private sector companies signalled a sharp and accelerated increase in business activity during August. This was shown by the seasonally adjusted IHS Markit Flash U.S. Composite PMI Output Index rising from July’s reading of 54.6 to 56.0, to indicate the fastest growth of overall activity since May 2015.

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