Housing Starts Down in May But Permits Up Strong

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Economic Update: Housing Starts and Building Permits

Housing Starts in May were reported at an annualized rate of 708K, which was down 4.8% from April’s reading and below the consensus for 721K.

The April number was revised higher to an annualized rate of 744K from 717K (March: 699K, February: 694K, January: 706K)

Building Permits for May rose to a rate of 780K. This is up 7.9% from April’s revised 723K and was above the consensus of 728 (March: 769K, February: 747K, January: 682K).

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Other stories on the US Economy to review:

• UofM's Consumer Sentiment also Weak
  
• Industrial Production and Capacity Utilization Below Expectations
  
• Empire Manufacturing Disappoints in June
  
• CPI Declines in May
  
• Business Inventories Above Expectations in April
  
• Retail Sales Fall Across Board in May
  
• PPI Shows Inflation Fell at Producer Level in May
  
• NFIB Small Business Optimism Pulls Back
  
• ISM Non-Manufacturing Index Above Expectations
  
• Some Good News: Employment Trend Index Moves Up
  
• May Jobs Report Disappoints Big Time
  
• ISM Report Shows Growth Slowing
  
• Q1 GDP Revised Lower

  SPDR S&P Homebuilders Last 12 Months

 

 

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