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To: TigerPaw who wrote (63450)	9/3/1998 10:34:00 AM
From: Mohan Marette	Respond to of 176387

<--OT--> Economic data.NAPM non-mfg index & Housing completion. Still in growth mode. ======================================================= Thursday September 3, 10:07 am Eastern Time US NAPM non-mfg index 52.0 in Aug vs 57.5 in July NEW YORK, Sept 3 (Reuters) - The National Association of Purchasing Management (NAPM) on Thursday said its index of non-manufacturing business activity registered 52.0 in August, compared to 57.5 in July. ===================================================== Thursday September 3, 10:06 am Eastern Time U.S. July housing completions up strongly WASHINGTON, Sept 3 (Reuters) - The hard-pressed homebuilding industry, scrambling to meet brisk demand, completed new homes for sale during July at the strongest rate in nearly 1-1/2 years, the government reported on Thursday. The Commerce Department said completions of new single-family homes and apartments increased 3.5 percent to a seasonally adjusted annual rate of 1.53 million -- the highest rate since 1.57 million in February 1997 -- after a 1.4 percent rise in June. The government keeps monthly statistics not only on housing starts and sales but also on the rate of completions to measure activity within the homebuilding industry. A house is considered completed when all structural work has been finished and is ready for occupancy. Low mortgage rates and rising incomes from strong job growth have fostered a booming market for both construction and sales of new homes. The National Association of Home Builders, a lobby group for the construction industry, said recently that its members were having problems finding enough workers to hire. Commerce said July housing completions were 15 percent higher than a year ago in July 1997 when homes were being completed at a rate of 1.33 million a year.