The Conference Board

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Slow But Sure Recovery

The NAHB's Current Remodeling Market Index (RMI) of 45.0 was nearly the same as the 45.7 for the third quarter. Record existing home sales Existing home sales in January rose above a 6 million-unit annual rate for the first time in history, according to the National Association of Realtors. The median sales price of existing homes was $151,500 in January, 10% above a year ago. More

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Early Recovery

An economic recovery may be coming earlier than expected. Ten indicators make up the Index: average weekly initial claims for unemployment insurance, interest rate spread, money supply, average weekly manufacturing hours, index of consumer expectations, building permits, stock prices, vendor performance, and manufacturers' new orders both for non-defense capital goods and for consumer goods and materials.Consumer Confidence Still Climbing Further support for an economic recovery comes from the rise in the Consumer Confidence Index in January. The Expectations Index, which measures consumers' outlook for the economy six months from now, is at 96.9, 27 points higher than in October. More

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Looking Up

Second mortgage interest rates increased slightly again in December. Support for an upturn in the spring comes from an increase in the Conference Board's Index of Economic Indicators for November 2001. More

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