- Sweden: Consumer Confidence, Business Tendency Survey, Public Finance (Mar)
- Spain: Mortgage Market (Jan), Order Book Forecast (Mar)
- Italy: ISTAT Business & Consumer Survey Press Release (Mar)
- Germany: Business Registrations & Deregistrations (Dec), Import & Export Prices (Feb), IAB Labor Market Barometer (Mar)
- Vietnam: GDP (Q1), CPI, IP, International Trade, Passenger & Cargo Traffic Statistics, Manufacturing Sales and Inventories, International Visitor Arrivals (Mar); Korea: Economic Sentiment
- more updates...
Economy in Brief
U.S. Energy Product Prices Remain Under Pressure
Regular gasoline prices held steady at $2.32 per gallon last week (12.1% y/y) for the third straight week...
German Federal Debt Levels Fall
German debt level fell outright in Q4 2016 as the ratio of federal debt-to-GDP also fell...
NABE 2018 Forecast: Modest Improvement in Economic Growth & Higher Inflation
The NABE expects 2.5% real U.S. economic growth in 2018 compared to 2.3% forecast for 2017...
Texas Factory Sector Activity Remains Strong
The Dallas Fed indicated in its Texas Manufacturing Outlook Survey that the General Business Activity Index eased during March...
EMU Money and Credit Growth Are Less Than Impressive Than Euro-PMIs
EMU nominal money supply growth is slightly higher over three months, but credit growth in the EMU is slower...
Durable Goods Orders Strengthened by Another Jump in Aircraft
New orders for durable goods rose 1.7% (5.0% y/y) during February...
by Tom Moeller February 17, 2016
Housing starts during January declined 3.8% (+1.8% y/y) to 1.099 million (AR) from 1.143 million, revised from 1.149 million. The shortfall followed a 2.8% drop in December. The latest figure disappointed expectations for 1.17 million starts in the Action Economics Forecast Survey.
Single-family starts fell 3.9% (+3.5% y/y) to 731,000, the lowest level since October. Starts of multi-family units declined 3.7% (-1.6% y/y) to 368,000.
By region, starts in the Midwest fell 12.8% (-6.2% y/y) to 136,000, the lowest level since February. In the Northeast, starts declined 3.7% (+44.4% y/y) to 156,000 following a 26.6% increase. Starts in the South fell 2.9% (+4.9% y/y) to 560,000 after a 5.7% drop, while starts in the West eased 0.4% (-15.7% y/y) to 247,000, down for the third month in four.
Building permits ticked 0.2% lower to 1.202 million (+13.5% y/y) from 1.204 million. Permits to build single-family units fell 1.6% (+9.6% y/y) to 720,000, but multi-family permits increased 2.1% (19.9% y/y) to 482,000.
The housing starts figures can be found in Haver's USECON database. The expectations figure is contained in the AS1REPNA database.
Lessons from the Crisis: Ending Too Big to Fail is the title of yesterday's speech by Neel Kashkari, President and CEO, Federal Reserve Bank of Minneapolis, and it is available here.
|Housing Starts (000s, SAAR)||Jan||Dec||Nov||Jan Y/Y %||2015||2014||2013|
|Starts By Region|