16 Jun 2015
US Housing Starts fell 11.1% in May
FXStreet (Mumbai) - The official data in the US on Tuesday showed housing starts in May tumbled 11.1% to an annualized pace of 1.04 million, missing the estimate of a 4% fall (1.09 million).
In April, housing starts jumped 20.2% to an annualized pace of 1.135 million, the highest since November 2007.
Building Permits rose 11.8% to an annualized pace of 1.1 million; fastest since August 2007, compared to the consensus forecast of a 3.5% drop to an annualized pace of 1.1 million.
Overall, the data are optimistic, especially since building permits ticked higher. Furthermore, housing starts for last two months combined have been highest since 2007.
In April, housing starts jumped 20.2% to an annualized pace of 1.135 million, the highest since November 2007.
Building Permits rose 11.8% to an annualized pace of 1.1 million; fastest since August 2007, compared to the consensus forecast of a 3.5% drop to an annualized pace of 1.1 million.
Overall, the data are optimistic, especially since building permits ticked higher. Furthermore, housing starts for last two months combined have been highest since 2007.