19 January 2001, 10:43  Surprise strength in U.S. December housing starts was centered>

Surprise strength in U.S. December housing starts was centered in single unit starts which rebounded from November weakness. Starts gained a modest 0.3% overall to 1.575 million and November starts were revised higher. Single units soared 6% to 1.313 million. All areas gained except the Midwest which fell 21.1%. The entire gain was due to a strong seasonal adjustment factor (known in advance), but strength in housing could also indicate that housing price dips were met with buying. The preliminary reading on housing permits declined 6.6% to 1.493 million, with all sectors down, showing a decoupling from starts. Permits have been revised higher recently, however. Single family permits were off 3.3% to 1.144 million in a second down month.

© 1999-2022 Forex EuroClub
All rights reserved