NAHB: November builder confidence drops 8 points to 60 due to affordability squeeze
Growing affordability concerns resulted in builder confidence in the market for newly-built single-family homes falling eight points to 60 in November. The index measuring current sales conditions fell seven points to 67, the component gauging expectations in the next six months dropped 10 points to 65 and the metric charting buyer traffic registered an eight-point drop to 45.
Industrial production up 0.1 percent in October and 4.1 percent year-on-year
Industrial production edged up 0.1 percent in October, as a gain for manufacturing outweighed decreases elsewhere. At 109.1 percent of its 2012 average, total industrial production was 4.1 percent higher in October than it was a year earlier. Capacity utilization for the industrial sector was 78.4 percent, a rate that is 1.4 percentage points below its long-run (1972-2017) average.
E-commerce retail sales continue to rise exponentially faster than overall sales
3Q 2018 e-commerce retail sales rose 3.1 from 2Q, versus 0.9 percent for all retail sales. Year-on-year, e-commerce sales rose 14.5 percent in 3Q 2018, versus 5.3 percent for all retail sales. The share of e-commerce sales was 9.8 percent in 3Q 2018 versus 9.0 percent the same quarter of 2017.