Please, answer to the questions and give summary:

Housing Starts and Manufacturing Data

Different components of the economy include housing and manufacturing. Monthly data for the number of new privately owned housing units and manufacturing capacity utilization in the economy can be found in Table 8, Chart 8, Table 9, and Chart 9.

1What type of good is housing?

2How can the housing market influence the direction of the economy?

3What does the manufacturing capacity utilization data tell you about the economy?

4Is housing a leading or lagging indicator? What about manufacturing capacity? How can you use these to understand economic trends?