- US: Advance Durable Goods, Advance Trade & Inventories (Mar)
- Brazil: PPI (Mar); Mexico: Compensation and Productivity (Feb)
- Canada: Payroll Employment, Earnings, & Hours (Feb)
- Spain: Advanced HICP & CPI, Construction Business Survey Press (Apr)
- Belgium: CPI (Apr)
- Germany: GfK Consumer Climate Survey, State CPI: Bavaria, Saxony, Berlin, Hesse, North Rhine-Westphalia, Brandenburg (Apr)
- Building Permits (Feb)
- UK: Motor Vehicle Production (Mar)
- 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 October 19, 2016
Housing starts fell 9.0% during September (-11.9% y/y) to 1.047 million units (AR) following a 5.6% August decline to 1.150 million, revised from 1.142 million. It was the lowest level of starts since March of last year. Expectations were for 1.18 million starts in the Action Economics Forecast Survey.
Last month's drop reflected a 38.0% plummet (-40.8% y/y) in starts of multi-family homes, which include apartments & condominiums, to 264,000, the lowest level since June 2013. Starts of single-family homes increased 8.1% (5.4% y/y) to 783,000, the highest level since February.
By region, starts were weak everywhere last month. In the Northeast, starts declined 36.0% (-31.5% y/y) to 87,000. Starts in the Midwest fell 14.1% (+6.6% y/y) to 146,000, the lowest level in 12 months. In the South, starts fell 5.3% (-15.6% y/y) to 532,000. Starts remained unchanged (-4.4% y/y) at 282,000 in the West.
Building permits increased 6.3% (8.5% y/y) to 1.225 million, the highest level since November. Permits to build single-family homes improved 0.4% (4.4% y/y) to 739,000, while permits to build multi-family homes increased 16.8% (15.4% y/y) to 486,000.
The housing starts and permits figures can be found in Haver's USECON database. The expectations figure is contained in the AS1REPNA database.
Home Price Expectations and Behavior: Evidence from a Randomized Information Experiment from the Federal Reserve Bank of New York is available here.
|Housing Starts (000s, SAAR)||Sep||Aug||Jul||Sep Y/Y %||2015||2014||2013|
|Starts By Region|