- Korea: Housing Price Index (Apr)
- US: Consumer Sentiment (Apr-final), GDP (Q1 Adv), ECI (Q1)
- Consumer Sentiment Detail (Apr-final)
- US: Selected NIPA Tables (Q1-Adv), Summary key Source Data (Q1)
- Canada: GDP by Industry (Feb), Industrial Product Prices (Mar)
- *Taiwan National House Price Indexes Rebased to 2016=100.*
- Euro area: HICP (Apr-Flash), ECB Survey of Professional Forecasters (Q2)
- Italy: CPI, HICP (Apr-Prelim)
- Brazil: Sao Paolo Capacity Utilization (Mar);Mexico: Debt (Mar);
- more updates...
Economy in Brief
U.S. Employment Cost Index Has Stronger Gain
Lifted by outsized rises in several industries, the employment cost index for civilian workers rose 0.8% (2.4% y/y) during Q1'17...
Chicago Purchasing Managers Index Strengthens
The Chicago Purchasing Managers Business Barometer Index for April increased to 58.3 from 57.7 in March...
EMU Money and Credit Perk Up
There is some noticeable acceleration in EMU money and credit growth...
Durable Goods Orders Improvement Moderates
New orders for durable goods rose 0.7% (4.5% y/y) during March...
U.S. Initial Claims for Unemployment Insurance Increase
Initial unemployment claims for unemployment insurance rose to 257,000 during the week ended April 22...
U.S. Pending Home Sales Ease
The National Association of Realtors (NAR) reported that pending home sales slipped 0.8% ((+0.8% y/y) during March...
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|