US housing starts and permits fall by less than expected in October
Ferguson
16,815.00p
16:44 25/04/24
-0.65%
-110.00p
Homebuilders in the US broke ground on slightly more new houses last month than forecast by economists.
Support Services
10,523.75
17:09 25/04/24
-0.41%
-43.24
According to the Department of Commerce, in seasonally adjusted terms, the annual rate of housing starts declined at a month-on-month pace of 4.2% to reach 1.425m (consensus: 1.42m).
Meanwhile, the prior month's pace was revised up from 1.439m to 1.488m.
Starts were weakest in the Northeast, where they fell by 34.7%, declining by 11.1% in the Midwest and by 10.6% in the West.
In the South on the other hand they increased by 6.7%.
Housing permits decreased by 2.6% over the month to reach 1.526m (consensus: 1.517m).