Factory Orders Rose in July, but New Home Sales Fell
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Factory orders for costly manufactured goods in July recorded the biggest gain in four months. Meanwhile, sales of new homes slid, according to a pair of reports that offered a mixed picture of economic activity.
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After months of being buffeted by higher energy costs, consumer prices posted a rare decline in July while output at U.S. factories and construction of new homes and apartments rebounded from their June swoon.
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New home sales turned up and factory orders soared in July, suggesting the economy was on stable footing before a credit crunch took a turn for the worse.
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Orders for costly manufactured goods in July posted the biggest gain in four months. New-homes sales, meanwhile, slid, according to a pair of reports.
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US factories posted their biggest gain in four months on orders for costly manufactured goods, but new-homes sales slid, according to a pair of reports offering a mixed picture of economic activity in July.
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Orders for US durable goods posted a larger-than-expected rise in July, but new home sales showed signs of buckling under the weight of higher interest rates, two government reports showed on Wednesday.
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Stocks climbed on Friday as an unexpected rise in July new home sales calmed worries about the housing market slump, helping investors put aside fears about a recession.
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U.S. existing home sales posted  their largest gain in two years last month, a sign the housing  market may be climbing out of a slump, but orders for  big-ticket factory goods fell as businesses showed wariness  about the economy's health.
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Pending sales of previously owned homes fell by a surprising 12.2 percent in July as credit tightened up amid troubles in the housing and subprime mortgage sectors, a real estate trade group said on Wednesday
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WASHINGTON (CBS.MW) -- Construction of new homes recovered in July, as US homebuilders started homes at a seasonally adjusted annual rate of 1.978 million, the Commerce Department said Tuesday.
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Sales of previously owned US homes fell to the lowest in almost five years in July, and unsold properties climbed to the highest since 1991 as turmoil in the mortgage markets rippled through the housing industry.
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Stocks were up on Friday after stronger-than-expected new home sales in July and another report showing a rise in factory orders for big-ticket items.
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Sales of new homes unexpectedly rose 2.8 percent to an 870,000 annual sales pace in July, reversing two months of declines, and inventories eased, a Commerce Department report showed on Friday.
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Sales of new homes fell more than expected in July, to their lowest pace since December, as higher mortgage rates cooled the housing market.
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July factory orders rose the most in four months, exceeding forecasts, and productivity gains slowed last quarter, two government reports released yesterday showed.
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New orders for long-lasting  U.S.-made manufactured goods surged a much bigger-than-expected  5.9 percent in July, the biggest gain since September, and a  business investment gauge posted the first gain in three  months, a Commerce Department report showed on Friday.
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U.S. factory activity expanded at a  slightly reduced pace in August, while new order growth slowed  as well, according to a survey published on Friday.