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US housing starts little changed in June

By Alexander Bueso

Date: Wednesday 17 Jul 2019

US housing starts little changed in June

(Sharecast News) - US housing starts were little changed last month although the details of the report were mixed.
According to the Department of Commerce, housing starts declined at a 0.9% month-on-month clip to reach an annualised rate of 1.253m, putting them 6.2% below their year earlier level.

Economists had penciled-in a print of 1.26m.

Nevertheless, starts for single-family homes rose by 3.5% in comparison to May to reach an annualised pace of 847,000.

Housing permits meanwhile, a key lead indicator for activity in the sector, shrank by 6.1% versus May to reach 1.299m, although economists had correctly anticipated that fall.

The annualised pace of housing starts for May was revised marginally lower, from 1.269m to 1.1265m.

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