- US: IIP (Q4)
- Zambia: BOP (Q4); Israel: Credit Card Purchases (Feb); UAE: CPI (Feb); Saudi Arabia: GDP (Q4-Prelim)
- Hungary: Employment (Feb); Bulgaria: Business Survey (Mar); Kazakhstan: Consolidated Budget (Feb)
- Sweden: Consumer Confidence, Business Tendency Survey, Public Finance (Mar); Iceland: PPI (Feb)
- Spain: Mortgage Market (Jan), Order Book Forecast (Mar)
- Italy: ISTAT Business & Consumer Survey (Mar)
- more updates...
Economy in Brief
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...
German Federal Debt Levels Fall
German debt level fell outright in Q4 2016 as the ratio of federal debt-to-GDP also fell...
NABE 2018 Forecast: Modest Improvement in Economic Growth & Higher Inflation
The NABE expects 2.5% real U.S. economic growth in 2018 compared to 2.3% forecast for 2017...
Texas Factory Sector Activity Remains Strong
The Dallas Fed indicated in its Texas Manufacturing Outlook Survey that the General Business Activity Index eased during March...
EMU Money and Credit Growth Are Less Than Impressive Than Euro-PMIs
EMU nominal money supply growth is slightly higher over three months, but credit growth in the EMU is slower...
Durable Goods Orders Strengthened by Another Jump in Aircraft
New orders for durable goods rose 1.7% (5.0% y/y) during February...
by Tom Moeller February 16, 2017
Housing starts during January declined 2.6% to 1.246 million (AR) from 1.279 million in December, revised from 1.226 million. Expectations had been for 1.215 million starts in the Action Economics Forecast Survey. Starts of single-family units increased 1.9% to 823,000 following two months of decline. Starts of multi-family homes declined 10.2% to 423,000 following a 45.8% jump.
By region, housing starts in the South jumped 20.0% to 690,000, the highest level since August 2007. Starts in the Northeast strengthened 55.4% to 143,000, the highest level in three months. Starts in the Midwest declined 17.9% to 188,000, the lowest level since September, while starts in the West plummeted 41.3% to 225,000, the lowest level since March 2015.
Building permits increased 4.6% to 1.285 million from 1.228 million. The latest level was the highest since November 2015. Permits to build single-family homes declined 2.7% (+11.1% y/y) to 808,000. Permits to build multi-family units increased 19.8% (3.5% y/y) to 477,000.
The housing starts and permits figures can be found in Haver's USECON database. The expectations figure is contained in the AS1REPNA database.
The Homeownership Gap Is Finally Closing from the Federal Reserve Bank of New York can be found here.
|Housing Starts (000s, SAAR)||Jan||Dec||Nov||Jan Y/Y %||2016||2015||2014|
|Starts By Region|