The homebuilder confidence index dropped to 46, the lowest level since May and much lower than January’s reading of 56. Keith Bliss of Cuttone & Co. isn’t so sure that the weather is to blame for the reduced confidence. He will be watching the housing starts and building permit reports, which come out on Wednesday. He believes this report and the leading indicators report will give a good indication as to how the economy is faring for the first part of the year.
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