- China: Industrial Profits (Mar); Philippines: Tourist Arrivals (Feb); Korea: GDP (Q1)
- New Zealand: Tourism Expenditure, International Reserves, RBNZ Analytical Accounts and Statistical Balance Sheet (Mar); Australia: Import and Export Price Indexes (Q1)
- Japan: Input Output Prices, International Trade, Lease Contracts (Mar), First 10 Days Trade (Apr)
- France: INSEE Household Survey (Apr), Registered Unemployed & Job
- more updates...
Economy in Brief
U.S. Gasoline Prices Are Little-Changed; Crude Oil Falls
Regular gasoline prices of $2.45 per gallon last week (13.3% y/y)...
Japan's METI Indexes Show Ongoing Gains
The services sector is assessed by the METI indexes where it is named the 'tertiary sector.' That sector index rose to 104.1 in February...
U.S. New Home Sales & Prices Strengthen
Sales of new single-family homes increased 5.8% (15.6% y/y) during March to 621,000...
U.S. Consumer Confidence Backpedals
The Conference Board Consumer Confidence Index fell 3.7% during April (+27.0% y/y) to 120.3...
U.S. FHFA House Price Index Regains Strength
The FHFA U.S. house prices increased 0.8% during February (6.5% y/y)...
French Manufacturing and Service Sectors Weaken But Stay on Trend or Hold Recent Gains
The French manufacturing sector trend index is down to 1 in April from 3 in March...
by Tom Moeller April 19, 2016
Housing starts fell 8.8% (+14.2% y/y) during March to 1.089 million units (AR) from 1.194 million in February, revised from 1.178 million. It was the lowest level of starts since October. Expectations were for 1.89 million starts in the Action Economics Forecast Survey.
Starts of single-family homes declined 9.2% to 764,000, but remained 22.6% higher than one year earlier. This was the lowest point also since October. Multi-family starts, which include apartments & condominiums, were much weaker, and fell 7.9% (-1.8% y/y) to the lowest level since February of last year.
By region, starts in the Midwest declined 25.4% (+5.6% y/y) followed by a 15.7% decline (+30.8% y/y) in the West. In the South, starts were off 8.4% (+8.6% y/y), but in the Northeast starts rose by nearly two-thirds (21.0% y/y).
Permits to build a new home declined 7.7% (+4.6% y/y) to the lowest level in twelve months. Permits to build single-family homes eased 1.2% (+13.2% y/y), but multi-family permits dropped 18.6% (-9.3% y/y).
The housing starts and permits figures can be found in Haver's USECON database. The expectations figure is contained in the AS1REPNA database.
The Elusive Boost from Cheap Oil from the Federal Reserve Bank of San Francisco can be found here.
|Housing Starts (000s, SAAR)||Mar||Feb||Jan||Mar Y/Y %||2015||2014||2013|
|Starts By Region|