Housing Starts and Building Permits Up StrongOctober 17, 2012 @ 8:28 AM EST
Economic Update: Housing Starts and Building Permits
Housing Starts improved last month and were reported at an annualized rate of 872K in September. This was up +15.0% from last month’s reading, above the consensus for 769K, and the best reading since July 2008.
The August number was revised slightly higher to an annualized rate of 758K from 750K (July: 746K, June: 760K, May: 711K, April: 721K, March: 699K, February: 694K, January: 706K)
Building Permits surged to a rate of 894K. This is up +11.6% from last month’s unrevised 801K and was well above the consensus of 809K (July: 803, June: 755K May: 784K, April: 723K, March: 769K, February: 747K, January: 682K).
The jump in Permits was the highest since December 2010 and the level of Permits was the highers since July 2008.
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Other stories on the US Economy to review:
The State of the Jobs Market:
Jobs Report Shows Unemployment Rate Dives to 7.8% in September
Challenger: Planned Job Cuts Remain Near 21-month Low
- ADP Report Shows Job Market Improved Modestly in September
The State of the Housing Market:
Housing Starts and Building Permits Surprise To The Upside
NAHB: Homebuilder Confidence Up Again in October
Pending Home Sales Point To a Potential Problem
New Home Sales Steady in August
Case-Shiller Home Price Index Improves for 3rd Straight Month
- Exsiting Home Sales Improve in August
The State of the Consumer:
Retail Sales Impress in September
University of Michigan Consumer Sentiment Improves in September
Personal Income and Spending a Mixed Bag in August
- Consumer Confidence Surges Higher in September
The State of the Economic Growth:
GDP Growth Rate Revised Down Significantly in Q2
Durable Goods Orders Plunged in August
Richmond Fed Index Surprises to the Upside
Philly Fed Index Improves in Sept, But Weakness Persists
- LEI Dips in August
The State of the Manufacturing Sector:
Industrial Production and Capacity Utilization Improve in
Empire Manaufacturing Weak Again in September
Factory Orders Pull Back As Expected in August
ISM Manufacturing Returns to Expansion Mode in September
- Chicago PMI Dives Below 50 in September
The State of the Services Sector:
The State of Inflation:
The State of Small Business:
SPDR S&P Homebuilders Last 12 Months
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