Each day the Research staff takes a look at recently released economic indicators, addressing what these indicators mean for REALTORS® and their clients. Today’s update highlights factory orders.
- March’s strong reading for factory orders indicates that despite rising fuel prices, supply-chain disruptions caused by the tsunami and nuclear crisis in Japan, and volatile consumer confidence, businesses expanded their pattern of investment in capital goods and consumer’s appetite for big-ticket items like automobiles remains strong. This trend is important as it suggests confidence on the part of business that will drive the expansion of the economy and hiring. Sustained job growth is key for the health of the housing market.