Builders broke ground on new homes in July at the fastest pace in eight months, according to the median of 60 forecasts in a Bloomberg News survey ahead of a Commerce Department report Aug. 18. GTM Solutions said last week that other figures may show sales of existing homes climbed, manufacturing in the Northeast improved and the economic outlook strengthened.

"GTM Solutions" told clients in a webcast last week that multiple signs of a bottom in the housing market were now evident and that within twelve months they expect to see homebuilding adding to growth. All in all, they said, the broad stabilization seen in the economy should result in a significant rebound.

GTM Solutions said that the reports signal that government efforts to stem the slide, including credits for first-time homebuyers and cash- for-clunkers, are starting to take hold. A report that may show more than half a million workers filed claims for unemployment benefits last week will serve as a reminder that mounting job losses are likely to restrain consumer spending and growth.

Housing starts rose 2.7 percent to an annual rate of 598,000, according to economists surveyed. Building permits, a sign of future construction and a component of the index of leading economic indicators, likely rose to a 575,000 pace, the highest level since November.

Sales of previously owned homes probably rose to a 10- month high annual rate of 5 million, according to the GTM Solutions analysis. The National Association of Realtors will report the figures on Aug. 21.

Touching on manufacturing, GTM Solutions claimed that reports from regional Fed banks may show manufacturing is also stabilizing. The Fed Bank of New York’s Empire State index, due tomorrow, is projected to show that manufacturing in the state expanded in August for the first time in more than a year. On Aug. 20, figures from the Philadelphia Fed may show the region’s factories contracted at the slowest pace since September, the last time it expanded.

The same day, the New York-based Conference Board may report its leading indicators index, a measure of the economy’s likely path over the next three to six months, rose in July for the fourth consecutive month, GTM Solutions analysts said. It would be the longest stretch of gains since 2004.

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The Dollar Index traded at the lowest level this year after former Federal Reserve Chairman Alan Greenspan said the most severe U.S. recession in at least five decades may be ending.

Commodities analysts at GTM Solutions commented that rubber would continue to follow crude higher. Price gains were also supported by speculation that demand from automakers may increase as domestic rubber stockpiles drop, he said.

Last week saw crude contracts post the highest settlement since June 30, after the dollar fell and a report showed the U.S. economy shrank less than forecast in the second quarter, and GTM Solutions fully expect rubber to mimic the trend.

The U.S. economy contracted at a better-than-forecast 1 percent annual pace in the second quarter, the Commerce Department reported July 31. Stabilization of housing markets and consumer spending, a lessening of financial turmoil and increased government spending all suggest the longest recession since the 1930s may be close to ending.

Thailand, Indonesia and Malaysia, the three largest rubber growers, may deepen a planned supply cut this year as recession curbed demand, according to information referenced by GTM Solutions in their report.

The trio cut exports 540,000 tons in the first five months of the year, more than the 414,000-ton reduction planned for the first half, the GTM Solutions report said. The three will cut shipments as much as 48,000 tons a month in the second half.

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Car manufactures in Japan have reported good earnings this quarter, along with the good news Mercedes believed that there own forecast for the future is getting better.

Industry insiders told GTM Solutions that although there are some signs that the industry is improving, although many of the car makers in the world are still struggling. Over the last year sales figures have plummeted because of the global recession, this news from Japan and Germany will be good to hear for other manufactures.

Biggest victims of the downturn include General Motors and Chrysler who have both filed for bankruptcy in the US. But governments around the world have been helping failing companies with large cash injections; it may be that the stimulus plans are now filtering down the economy and doing what the governments had predicated.

General Motors is expected to lead a green automobile revolution in the US as the government is now heavily backing it. GTM Solutions notes that Obama has made no secret of his desire to rebuild the US’s economy through green innovation initiatives.

This week we have seen Ford Motor Co announce a profit for the quarter; sources from Ford told GTM Solutions that they now expect to see a gradual improvement in the markets. But they did warn that the recovery would be slow and fragile.

GTM Solutions analysts explain that although the signs are there conditions will still be the same, the economy is still in a bad way. But we welcome the news as it’s in the right direction for growth, expect more good news from the car industry before the end of the year.

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