Recent Updates
- China: Foreign Reserves (Feb)
- US: Employment Situation (Feb), Intl Trade (Jan)
- US: Establishment Survey Detail (Feb)
- US: Household Survey Detail (Feb)
- more updates...
Economy in Brief
U.S. Consumer Credit Outstanding Declines in January
Consumers reduced credit balances further in January...
U.S. Trade Deficit Widens to $68.2 Billion in January
The U.S. trade deficit in goods and services widened to $68.2 billion in January...
German Order Growth Gets Back in Gear Despite the Headwinds
German order growth is back in gear with total orders rising by 1.4% m/m in January...
U.S. Factory Orders & Shipments Rise Again in January
Manufacturing activity is strengthening. Factory orders rose 2.6% (2.8% y/y) in January...
U.S. Initial Unemployment Insurance Claims Rise Just 9,000
Initial claims for unemployment insurance rose modestly by 9,000 to 745,000 in the week ended February 27...
Viewpoints
Commentaries are the opinions of the author and do not reflect the views of Haver Analytics.
by Tom Moeller March 16, 2005
Housing starts unexpectedly ticked 0.5% higher in February to a record high of 2.195M following an upwardly revised 6.2% increase in January.Consensus expectations had been for a decline to 2.033M starts.
Single-family starts rose 0.3% m/m to a record high of 1.775M and reflected a 4.5% (19.0% y/y) gain in the Northeast. Single family starts in the Midwest also jumped 19.1% (7.3% y/y).
Multi family starts remained on the mend and rose 1.7% m/m after the upwardly revised 20.8% January spike.
Building permits slipped 2.7% reflecting a 10.8% (+13.8% y/y) drop in permits for 5+ units.
| Housing Starts (000s, AR) | Feb | Jan | Y/Y | 2004 | 2003 | 2002 |
|---|---|---|---|---|---|---|
| Total | 2,195 | 2,183 | 15.8% | 1,952 | 1,853 | 1,7 10 |
| Single-family | 1,775 | 1,770 | 16.7% | 1,605 | 1,505 | 1,363 |
| Multi-family | 420 | 413 | 12.3% | 347 | 348 | 347 |
| Building Permits | 2,074 | 2,132 | 6.0% | 2,035 | 1,8 89 | 1,749 |
