New home construction fell 6% last month — double what was expected. Wholesale prices came in flat. And that may be good news when the Fed meets to discuss interest rates tomorrow. Lisa Napoli looks at the numbers.
New home construction fell six percent last month — the fifth drop in six months and double what was expected. Host Scott Jagow talks to FTN Financial chief economist Chris Lowe about the housing market slowdown.
The IMF today increased the influence of China, South Korea, Turkey and Mexico to reflect their growing economies. The move is seen as an attempt to boost the credibility of the IMF — but will it work? Scott Tong reports.
The government said today that construction spending fell 1.2 percent in July — the biggest drop in five years. The main reason: home building is down. So we're at the point of asking, will housing take down the whole economy?
Jobless figures were expected to remain unchanged. Ashley Milne-Tyte reports the numbers will likely vindicate the Fed's decision to hold interest rates steady.