- 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 March 16, 2017
Housing starts during February improved 3.0% to 1.288 million (AR) from 1.251 million in January, revised from 1.246 million. Expectations had been for 1.260 million starts in the Action Economics Forecast Survey. Starts of single-family units increased 6.3% to 872,000, the highest level since October 2007. Starts of multi-family homes declined 3.7% to 416,000, down for the third month in the last four.
By region, housing starts in the West jumped 35.7% (4.2% y/y) to 323,000, but have been range-bound since October. Elsewhere in the country starts declined. Starts in the South fell 3.8% (+7.7% y/y) to 659,000, but remained near the August 2007 high. Starts in the Midwest fell 4.6% (-11.4% y/y) to 187,000 following a 12.9% fall. In the Northeast, starts declined 9.8% (+48.8% y/y) to 119,000 and have trended sideways for twelve months.
Building permits declined 6.2% (+4.4% y/y) to 1.213 million from 1.293 million. Permits to build single-family homes increased 3.1% (13.5% y/y) to 832,000, nearly a ten-year high. Permits to build multi-family units fell 21.6% (-11.2% y/y) to 381,000.
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)||Feb||Jan||Dec||Feb Y/Y %||2016||2015||2014|
|Starts By Region|