: Consumer sentiment improves slightly in late Oct.
Consumer sentiment improves slightly in late Oct. by Rex Nutting Consumer sentiment improved slightly in late October, according to media reports of the University of Michigan's consumer sentiment index. The index fell to 80.6 in late October from 86.1 in September, but up from the 80.4 in the preliminary October number. Current conditions fell to 92.4 from 95.8 in September and 92.9 in the preliminary October reading. It's the lowest reading in 10 years. Expectations dropped to 73.1 from 79.9 in September, but rose from the 72.4 in early October.
10:00am 10/25/02 New home sales surge on 94% gain in Northeast By Rachel Koning Sales of new homes reached a record level in September but due almost entirely to a surge in sales limited to the northeastern United States. Other signs - including weakness in the South and Midwest and a gain in the supply of homes on the market -- show the housing market has apparently cooled from earlier in the year as mortgage rates have inched up. New homes sold in September reached a record 1.02 million, the Commerce Department reported Friday, a 0.4 percent gain from the previous month. Economists polled by CBS.MarketWatch.com looked for a level of 986,000 new homes to have moved on the market in September. Northeast sales jumped by more than 94 percent. Commerce officials could not comment on what may have driven such a gain. The supply of homes for sale across the country at the end of the month rose 0.6 percent to 332,000 - the most new homes on the market since August 1996. A months' supply of homes on the market stood at 4 in September, up from 3.9 in August.
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