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Economy in Brief
U.S. New Home Sales Almost Unchanged Since August
New single-family home sales around the country changed very little in October and also in September...
U.S. Q3 Growth GDP Unrevised at 33.1%; Corporate Profits Rebound
The second estimate of Q3 U.S. real GDP indicated that economic activity rose an unrevised 33.1% q/q...
U.S. Durable Goods Orders Rise Further in October
Manufacturers’ orders for durable goods increased 1.3% m/m (-0.3% y/y) in October...
U.S. Goods Trade Deficit Deepens During October
The advance estimate of the U.S. trade deficit in goods deepened to $80.29 billion during October...
U.S. Initial Jobless Claims Rise for a Second Week
Initial claims for regular state unemployment insurance rose again this past week ending November 21 to 778,000...
Viewpoints
Commentaries are the opinions of the author and do not reflect the views of Haver Analytics.
by Tom Moeller July 19, 2005
Housing starts were unchanged last month at 2.004M units.Consensus expectations had been for 2.05M starts.
Single-family starts slipped 2.5% after rising 4.2% in May which was a slightly weaker gain than reported initially. The June decline in single family starts occurred in the Midwest (-10.0% m/m, +13.4% y/y) and in the West (-10.2% m/m, +4.8% y/y). In the Northeast starts rose to the second highest level on record (5.1% m/m, 7.5% y/y) and in the South single family starts rose as well (4.0% m/m, 10.4% y/y).
Multi family starts gained back about half of the prior month's decline with a 14.2% rise.
Building permits rose 2.4% and generally have moved sideways this year.
| Housing Starts (000s, AR) | June | May | Y/Y | 2004 | 2003 | 2002 |
|---|---|---|---|---|---|---|
| Total | 2,004 | 2,004 | 9.7% | 1,950 | 1,854 | 1,7 10 |
| Single-family | 1,667 | 1,709 | 9.2% | 1,604 | 1,505 | 1,363 |
| Multi-family | 337 | 295 | 12.0% | 345 | 349 | 347 |
| Building Permits | 2,111 | 2,062 | 4.8% | 2,058 | 1,8 88 | 1,749 |
