U.S. Existing Home Sales, Philadelphia Fed Index

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Aug. 18 (Bloomberg) -- Markus Schomer, chief economist at PineBridge Investments LLC, talks about U.S. existing home sales data and manufacturing in the Philadelphia region. Sales of U.S. previously owned homes unexpectedly dropped 3.5 percent to a 4.67 million annual rate in July, the weakest since November, figures from the National Association of Realtors showed today. The Federal Reserve Bank of Philadelphia’s general economic index plunged to minus 30.7 this month, the lowest since March 2009, from 3.2 in July. Schomer speaks on Bloomberg Television's "InBusiness With Margaret Brennan." Ben Willis, a trader at Sunrise Securities Corp., also speaks. (Source: Bloomberg)


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