- Japan: **Japan Tokyo employment index rebased to 2015=100**
- Saudi Arabia: Non-Oil Foreign Trade (Feb); Kuwait: CPI (Mar); Tanzania: BOP, Trade, Depository Corporations Survey, Public Finance (Feb)
- Portugal: OMFIs Balance Sheet (Feb)
- Luxembourg: Employment and Unemployment (Mar)
- Kazakhstan: GDP by Income, Labor Productivity Index (Q4), Loans and Deposits, Monetary Aggregates, Banking System Surveys, Public Finance (Mar)
- more updates...
Economy in Brief
Fresh Six-Year PMI Highs for Euro Area
The 'fresh six-year high' is a pleasant surprise that continues, but...
Philadelphia Fed Factory Conditions Soften
The Philadelphia Fed reported that its General Factory Sector Business Conditions Index fell to 22.0 during April...
U.S. Leading Economic Indicators Suggest Continued Expansion
The Conference Board's Composite Index of Leading Economic Indicators increased 0.4% (3.5% y/y) during March...
U.S. Initial Unemployment Insurance Applications Increase
Initial unemployment claims for unemployment insurance rose to 244,000 during the week ended April 15 (-5.1% y/y)...
Japan's 'Trade Trends' Stabilize on an Unstable Foundation
Japan trade trends, broadly considered, seem to be stabilizing...
U.S. Mortgage Loan Applications Fall
The MBA total Mortgage Applications Volume Index declined 1.8% last week (-24.9% y/y)...
by Tom Moeller July 19, 2016
Housing starts increased 4.8% during June to 1.189 million units (SAAR) from 1.135 million in May, revised from 1.164 million. It was the highest level since February, but still 2.0% lower than one year earlier. Expectations were for 1.168 million starts in the Action Economics Forecast Survey.
Starts of single-family homes improved 4.4% (13.4% y/y) to 778,000 following a 2.5% fall. Multi-family starts, which include apartments & condominiums, increased 5.4% (-22.0% y/y) to 411,000 after a 0.3% dip.
By region, starts were mixed last month. In the Northeast, starts rebounded by nearly one-half, following two months of sharp decline. Starts in the West increased 17.4% (8.9% y/y) to 317,000, the highest level of the economic recovery. In the Midwest, starts declined 5.2% (+26.0% y/y), but the three-month average reached a new high. Starts in the South declined 3.4%, but were up by that amount y/y. Starts have been moving sideways since the middle of last year.
Permits to build a new home improved 1.5% last month (-13.6% y/y), to 1.153 million following a 0.5% rise. Permits to build single-family homes increased 1.0% (5.1% y/y) while multi-family permits increased 2.5% (-34.3% 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.
Part Chart, Part Science: The Evolution of Economic Indicators from the Federal Reserve Bank of Atlanta is available here.
|Housing Starts (000s, SAAR)||Jun||May||Apr||Jun Y/Y %||2015||2014||2013|
|Starts By Region|