Wednesday, December 16, 2015

Good news on housing, mixed on industrial production

 - by New Deal democrat

I'm on the road right now, so this will be a brief note without graphs. I'll update later.

Housing can be summarized as follows:

  • permits for single family homes made another post-recession record
  • permits overall had their best motnh except for June
  • the only fly in the ointment is that housing excluding New York (NY being responsible for most of the surge in May and June) is still short of those months, and flat since
  • starts, which are more volatile, and slightly less leading, also had a strong month but have been flat for most of this year.

Industrial production, on par with the last few months, wasn't nearly as bad as the headline suggests:

  • manufacturing was unchanged at a post-recession record
  • mining continued to decline
  • utilities went off a cliff (thank you, global warming!)

More later.