MetroIntelligence Economic Update by P. DUFFY
December builder sentiment index rebounds another point to 84
Builder sentiment in the market for newly built single-family homes moved one point higher to 84 in December, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) released today. This ties the highest reading of the year that was posted in February. The HMI index gauging current sales conditions rose one point to 90 and the gauge charting traffic of prospective buyers also posted a one-point gain to 70. The component measuring sales expectations in the next six months held steady for the third consecutive month at 84.
Retail sales edge up 0.3 percent in November, rose 18.2 percent year-on-year
Advance estimates of U.S. retail and food services sales for November 2021 were $639.8 billion, an increase of 0.3 percent from the previous month, and up 18.2 percent. Total sales for the September 2021 through November 2021 period were up 16.2 percent from the same period a year ago.
Inflation tracker Producer Price Index up 0.8 percent in November and 9.6 percent year-on-year
The Producer Price Index for final demand increased 0.8 percent in November, a steeper hike than the 0.6 percent noted in each of the 3 prior months, but lower than the 0.9 over the summer months. The index rose 9.6 percent for the 12 months ended in November, the largest advance since 12-month data were first calculated in November 2010. It has been 8.0 percent or over since July.