10/18: MetroIntelligence Economic Update by P. DUFFY

Builder confidence rises one point to 68 in October

Builder confidence in the market for newly-built single-family homes rose one point to 68 in October on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). Builder confidence levels have held in the high 60s since June. The HMI index measuring current sales conditions rose one point to 74 and the component gauging expectations in the next six months increased a single point to 75. Meanwhile, the metric charting buyer traffic registered a four-point uptick to 53.



August job openings rise to series high as separations outpace hirings

The number of job openings reached a series high of 7.1 million on the last business day of August, up 0.8 percent from July.  Over the month, hires rose 1.2 percent to 5.8 million, while separations rose 2.0 percent to 5.7 million.



Industrial production up 0.3 percent in September and 5.1 percent year-on-year

Industrial production increased 0.3 percent in September, about the same rate of change as in the previous two months. For the third quarter as a whole, total industrial production advanced at an annual rate of 3.3 percent. At 108.5 percent of its 2012 average, total industrial production was 5.1 percent higher in September than it was a year earlier.