- US: GDP & Corporate Profits (Q4, 3rd release)
- Canada: Industrial Products & Raw Material Prices (Feb)
- Spain: Flash HICP and CPI, Construction Business Survey Press (Mar)
- Euro area: EC Business and Consumer Surveys (Mar)
- Belize: GDP (Q4)
- Chile: IP (Feb); Brazil: Retail Trade - Rebased 2014=100 (Jan)
- Croatia: Employment, Retail Trade Press (Feb), Earnings (Jan); Bulgaria: PPI (Feb); Montenegro: Wages (Feb); Latvia: Retail Trade (Jan); Lithuania: External Debt Service (Q4);
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Economy in Brief
U.S. Initial Claims for Unemployment Insurance Ease
Initial jobless insurance applications fell to 258,000 (-3.1% y/y) during the week ended March 25...
U.S. Pending Home Sales Jump
The NAR reported that pending home sales increased 5.5% in February to an index level of 112.3...
U.S. Mortgage Loan Applications Remain Little Changed; Variable Rate Apps Surge
The MBA total Mortgage Market Volume Index slipped 0.8% last week (-12.4% y/y)...
La Dolce Vita? Italian Confidence Bumps Higher
Italian business and consumer confidence moved higher in March...
U.S. Consumer Confidence Improves Significantly
The Conference Board Consumer Confidence Index for March strengthened 8.2% (30.7% y/y) to 125.6...
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...
by Tom Moeller May 17, 2016
Housing starts increased 6.6% (-1.7% y/y) during April to 1.172 million (AR). The gain followed a 9.4% March decline to 1.099 million, revised from 1.089 million. Expectations were for 1.121 million starts in the Action Economics Forecast Survey.
Starts of single-family homes increased 3.3% (4.3% y/y) to 778,000 following a 10.9% drop. Multi-family starts, which include apartments & condominiums, increased 13.9% (-11.7% y/y) to 394,000 after a 6.0% fall.
By region, starts in the Midwest rebounded 22.2% (11.3% y/y) followed by a downwardly revised 14.1% rise (18.2% y/y) in the South. In the West, starts declined 10.0% (-24.7% y/y), and in the Northeast starts fell 7.6% (-29.8% y/y).
Permits to build a new home rebounded 3.6% (-5.3% y/y) following four months of decline. Permits to build single-family homes rose 1.5% (8.4% y/y), but multi-family permits recovered 8.0% (-23.8% 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.
|Housing Starts (000s, SAAR)||Apr||Mar||Feb||Apr Y/Y %||2015||2014||2013|
|Starts By Region|