Pursuits
Builders in U.S. Gain Confidence as New York Factories Slump
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Homebuilders’ confidence in the U.S. climbed in August to the highest level in almost a decade, while manufacturing in one region slumped.
The National Association of Home Builders/Wells Fargo sentiment gauge rose to 61, the highest since November 2005, from 60 the prior two months, figures from the Washington-based group showed on Monday. Readings greater than 50 mean more respondents report good market conditions. The Federal Reserve Bank of New York’s Empire State factory index plunged to minus 14.9 in August, the lowest level since April 2009.