- New Zealand: International Trade (Feb)
- Korea: Consumer Survey Index (Mar); Philippines: Public Finance (Jan)
- Weekly: **Initial Claims Data Revisions Completed**
- Euro area: Flash Consumer Confidence Indicator (Mar)
- US: New Residential Sales (Feb)
- Belgium: Business Survey (Mar)
- Uruguay: GDP (Q4)
- more updates...
Economy in Brief
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...
U.S. Existing Home Sales Fall to Five-Month Low; Inventory Remains Tight
Sales of existing single-family homes declined 3.7% (+5.4% y/y) to 5.480 million units (AR) during February...
U.S. FHFA House Price Index Momentum Diminishes
The FHFA U.S. house price index remained unchanged during January following a 0.4% December increase ...
Japan's Trade Trends Turn Sharply Higher
Japan has logged its largest current account surplus since April 2010...
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|