- Weekly: **Unemployment Initial Claims Data have been revised**
- US: Housing Starts by State and Region (Feb)
- CPB World Trade Monitor (Jan)
- CPB World Trade Monitor (Jan)
- France: Registered Unemployed & Job Vacancies (Feb)
- US: Household Employment for States and Regions (Feb)
- US: Wholesale Trade Revisions, Advance Durable Goods (Feb)
- Manufacturing Survey - Markit US (Flash - Mar), Composite Survey - US (Flash - Mar), Services Survey - US (Flash - Mar)
- more updates...
Economy in Brief
Correction to Unemployment Insurance Weekly Claims
The Department of Labor has issued a correction to yesterday's annual revision to seasonally adjusted weekly unemployment claims...
EMU PMIs Are Off to the Races...Farewell Mediocrity?
The PMI rankings for the manufacturing and service sector PMIs in the EMU are suddenly off the chart...
U.S. New Home Sales Improve While Prices Decline
Sales of new single-family homes increased 6.1% (12.8% y/y) during February to 592,000 units (AR)...
Kansas City Federal Reserve Factory Index Strengthens; Expectations Surge
The Kansas City Fed reported that its index of regional manufacturing sector business activity increased to 20 during March...
U.S. Initial Unemployment Insurance Claims Rise
Initial claims for unemployment insurance increased to 258,000 (-3.0% y/y) during the week ended March 18...
U.K. Retail Looks Less Bulletproof
For the most part, the assessments embodied in the March survey from the UK's CBI are being taken as being upbeat...
by Sandy Batten March 16, 2016
Housing starts jumped up 5.2% (30.9% y/y) in February to 1.178 million units at an annual rate. There were also upward revisions to both December and January figures, months in which starts had fallen. The February reading exceeded the 1.150 million expectation from the Action Economics Forecast Survey.
Single-family starts led the February increase, rising 7.2% m/m (37.0% y/y) to 822,000 units (AR) after having declined in both January and December. This is the highest level of single-family starts since November 2007. In contrast, multi-family starts only edged up 0.8% m/m (18.7% y/y) to 356,000 units in February, reflecting weakness in starts of 2-4 unit structures, following a sharp 9.5% m/m drop in January.
By region, starts plummeted in the Northeast, plunging 51.3% m/m to 73,000 units (AR), the lowest level since last February. Starts rose in each of the other three regions. They jumped 19.9% m/m in the Midwest to 181,000 units (AR), the first increase in four months. Starts in the South rose 7.1% m/m to 615,000 units (AR), following two consecutive monthly declines. And in the West, starts jumped 26.1% m/m to 309,000 units (AR), their largest monthly increase since April 2015.
Building permits in February did not exhibit the same rebound as did starts. Permits slumped 3.1% m/m to 1.167 million (AR) from 1.204 million in January. Permits have not risen since last November. However, compared to a year ago, permits were still up 6.3%. The February decline was isolated in multi-family permits, which slumped 8.4% m/m to 436,000. Single-family permits edged up 0.4% m/m to 731,000.
The housing starts and permits figures can be found in Haver's USECON database. The expectations figure is contained in the AS1REPNA database.
|Housing Starts (000s, SAAR)||Feb||Jan||Dec||Feb Y/Y %||2015||2014||2013|
|Starts By Region|