Market information

Wednesday, March 24, 2010

Existing home sales decreased for the third month in a row in the United States. The amount of homes sold was 0,6% lower in February compared to January. The supply in the housing market rose with almost 10% to 3.59 million. The average price for which a home was sold in February was $165,100, $400 lower than in January.

Producer confidence as measured by the Richmond Federal Reserve reached a level of 6 for March, a rise of 4 points from a month earlier. Respondents were increasingly positive about almost the entire company process. Order backlogs and wages were the only aspects to which respondents were more negative. Responses to questions how the company would look in six months were very positive.

On the other side of the US economy, consumer confidence, as measured by ABC News, dropped 1 point to -44 for the week ending 21st of March. A negative number means that there were more negative than positive answers. Respondents were especially negative about the state of the economy, scoring it a -84.

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