Reflecting economic uncertainty coupled with rising building material costs and interest rates, the National Association of Home Builders released a report on Wednesday showing a notable deterioration in U.S. homebuilder confidence in the month of April.
The report said the NAHB/Wells Fargo Housing Market Index slumped to 34 in April after inching up to 38 in March. Economists had expected the index to edge down to 37.
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Business News
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.