Lots of good news on the economy this week: Contracts on home sales have risen for the sixth straight month. NPR reports, “The pace is 12% above this time last year. If those sales generate additional spending on furniture, paint, appliances and other home-related goods, then the ripple effects could spread.”
Also this morning, an index of the manufacturing sector’s health rose to 52.9% in August from 48.9% in July. “The year-and-a-half decline in manufacturing output has come to an end, as 11 of 18 manufacturing industries are reporting growth when comparing August to July,” said the survey’s committee.