Economic Buzz: US homebuilder confidence edges up from seven month low

After reporting a notable deterioration in U.S. homebuilder confidence in the previous month, the National Association of Home Builders released a report on Monday showing improvement in homebuilder confidence in the month of May. The report said the NAHB/Wells Fargo Housing Market Index climbed to 37 in May after slumping to a seven-month low of 34 in April.

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