Homebuilder Confidence in U.S. Increases More Than Forecast
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Homebuilder confidence in the U.S. rose more than forecast in July to the highest since January 2006 as companies grew more upbeat about sales prospects.
The National Association of Home Builders/Wells Fargo index of builder sentiment climbed to 57 this month from a revised 51 in June, the Washington-based group reported today. The reading surpassed all but one forecast in a Bloomberg survey of 49 economists. The gauge has climbed 13 points in the latest two months, the biggest back-to-back advance since January-February 1992.