The increase was the third consecutive monthly rise. This is another sign that while people are more hesitant to make big purchases, they are still not afraid to spend money . Private nonresidential construction increased in October, while public building weakened as highway and street construction fell. Existing home sales continued to slow in October. While slower housing sales should be expected in the current economy, low mortgage rates are acting to offset slower economic activity and maintain a relatively healthy housing market.
Inflation continues to be good news for the economy.
Energy prices are re by Tom Dunn broadband service provider, laid off 39 workers locally. Internet commerce firm IXL Enterprises Inc. will close its Denver office of 135 employees in early December. Internet access company Covad Communications will cut 20 jobs. Increases in multi-family building permits were spurred by low vacancy rates for apartments. The decline in November's price from the August high represents a normal seasonal fluctuation.