- Korea: Housing Price Index (Apr)
- US: Consumer Sentiment (Apr-final), GDP (Q1 Adv), ECI (Q1)
- Consumer Sentiment Detail (Apr-final)
- US: Selected NIPA Tables (Q1-Adv), Summary key Source Data (Q1)
- Canada: GDP by Industry (Feb), Industrial Product Prices (Mar)
- *Taiwan National House Price Indexes Rebased to 2016=100.*
- Euro area: HICP (Apr-Flash), ECB Survey of Professional Forecasters (Q2)
- Italy: CPI, HICP (Apr-Prelim)
- Brazil: Sao Paolo Capacity Utilization (Mar);Mexico: Debt (Mar);
- more updates...
Economy in Brief
U.S. Employment Cost Index Has Stronger Gain
Lifted by outsized rises in several industries, the employment cost index for civilian workers rose 0.8% (2.4% y/y) during Q1'17...
Chicago Purchasing Managers Index Strengthens
The Chicago Purchasing Managers Business Barometer Index for April increased to 58.3 from 57.7 in March...
EMU Money and Credit Perk Up
There is some noticeable acceleration in EMU money and credit growth...
Durable Goods Orders Improvement Moderates
New orders for durable goods rose 0.7% (4.5% y/y) during March...
U.S. Initial Claims for Unemployment Insurance Increase
Initial unemployment claims for unemployment insurance rose to 257,000 during the week ended April 22...
U.S. Pending Home Sales Ease
The National Association of Realtors (NAR) reported that pending home sales slipped 0.8% ((+0.8% y/y) during March...
by Tom Moeller April 18, 2017
Housing starts during March declined 6.8% to 1.215 million (AR), and retraced all of February's increase to 1.303 million, revised from 1.288 million. Expectations had been for 1.256 million starts in the Action Economics Forecast Survey. Starts of single-family units retreated 6.2% to 821,000 and gave back most of February's increase to a ten-year high. Starts of multi-family homes declined 7.9% to 394,000, off 15.5% during the last three months.
By region, housing starts in the West retreated 16.0% (+9.2% y/y) to 284,000 and have been range-bound since October. Elsewhere in the country, starts in the South fell 2.9% (+19.4% y/y) to 645,000, but remained near the August 2007 high. Starts in the Midwest fell 16.4% (-2.5% y/y) to 155,000, the lowest level in six months. In the Northeast, starts increased 12.9% (-14.9% y/y) to 131,000, the highest level since October.
Building permits increased 3.6% (17.0% y/y) to 1.260 million and recovered from February's decline to 1.216 million units. Permits to build single-family homes eased 1.1% (+13.5% y/y), and have moved sideways for three months. Permits to build multi-family units increased 13.8% (24.1% y/y) to 437,000, but remained one-third below the June 2015 peak.
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)||Mar||Feb||Jan||Mar Y/Y %||2016||2015||2014|
|Starts By Region|