The NAHB's chief economist David Crowe offers up his take on the possibility of an interest rate hike within the next month. 

Although analysts are expecting the Federal Reserve to notch an increase in December, the mixed signals of macroeconomic data suggest the hike may be delayed until next year.

For example, the initial estimate of 
GDP growth for the third quarter came in at a weak 1.5% seasonally adjusted annual rate. And while employment growth improved in October (271,000 jobs gained), the bounce back came after soft job readings for September and August.

Those looking for good news on the labor front can point to a 5% unemployment rate. On the other hand, unfilled jobs have been trending up and the labor force participation rate was 62.4% in October, down 50 basis points from the 2014 average.

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