July US Housing Starts and Building Permits
International Trading
THE TECHNIQUE OF GIVING A GOOD MASSAGE
14 years ago
Wednesday, August 18, 2010
, Posted by Usman Ali Minhas at 2:32 AM
US housing starts increased a less-than-expected 1.7% m/m to a seasonally adjusted 546,000 annual rate in July, the first gain in three months, after a downwardly revised 8.7% m/m decrease to a 537,000 pace in June, figures from the Commerce Department showed. July housing starts fell 7.0% y/y. The July month-on-month increase was due to a 17.3% m/m gain in multi-family housing starts to a 95,000 rate. Single-family housing starts declined 4.2% m/m to a 432,000 pace in July from a downwardly revised 451,000 rate in June. Multi-family housing starts surged 31.9% y/y in July while single-family housing starts dropped 13.6% y/y. Meanwhile, building permits fell a more-than-expected 3.1% m/m to a seasonally adjusted 565,000 annual rate in July, the lowest level since May 2009, after a downwardly revised 1.6% m/m increase to a 583,000 pace in June. July building permits fell 3.7% y/y. Single-family building permits decreased 1.2% m/m to a 416,000 rate in July from a 421,000 pace in the previous month. Multi-family building permits slumped 9.2% m/m to a 129,000 rate from June’s downwardly revised 142,000 pace.
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