FOREX TradingCharts.com

Financial News: U.S. Housing Starts Unexpectedly Dip 0.3% In March

U.S. Housing Starts Unexpectedly Dip 0.3% In March

04/19/2019 - 08:49:00 (RTTNews)

(RTTNews) - A report released by the Commerce Department on Friday unexpectedly showed a modest decrease in new residential construction in the U.S. in the month of March.

The Commerce Department said housing starts dipped by 0.3 percent to an annual rate of 1.139 million in March from the revised February estimate of 1.142 million.

The drop came as a surprise to economists, who had expected housing starts to surge up by 5.9 percent to a rate of 1.230 million from the 1.162 million originally reported for the previous month.

Single-family housing starts fell by 0.4 percent to a rate of 785,000, while multi-family starts were unchanged at a rate of 354,000.

The report said building permits also tumbled by 1.7 percent to an annual rate of 1.269 million in March from the revised February rate of 1.291 million.

Building permits, an indicator of future housing demand, had been expected to rise by 0.3 percent to a rate of 1.300 million from the 1.296 million originally reported for the previous month.

While single-family building permits slumped by 1.1 percent to a rate of 808,000, multi-family permits plunged by 2.7 percent to a rate of 461,000.

Compared to the same month a year ago, housing starts were down by 14.2 percent and building permits were down by 7.8 percent.

On Tuesday, the National Association of Home Builders released a separate report showing a modest improvement in U.S. homebuilder confidence in the month of April.

The report said the NAHB/Wells Fargo Housing Market Index inched up to 63 in April after holding at 62 in March, with the uptick matching expectations.

"Builders report solid demand for new single-family homes but they are also grappling with affordability concerns stemming from a chronic shortage of construction workers and buildable lots," said NAHB Chairman Greg Ugalde.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2019 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Belgium Consumer Confidence At 5-month High (03 hr(s), 36 min(s), 11 sec(s) ago)
(RTTNews) - Belgium's consumer confidence rose in May to its highest level in five months, sur ...Full Story»

Germany's Economy Likely To Lose Momentum: Bundesbank (05 hr(s), 17 min(s), 11 sec(s) ago)
(RTTNews) - Germany's economy is likely to lose momentum in the second quarter, according to t ...Full Story»

Portugal Producer Price Inflation At 4-Month High (05 hr(s), 34 min(s), 11 sec(s) ago)
(RTTNews) - Portugal's producer price inflation rose for the second straight month to the high ...Full Story»

Hong Kong Jobless Rate Steady (07 hr(s), 55 min(s), 11 sec(s) ago)
(RTTNews) - Hong Kong's unemployment rate remained stable during the February to April period, ...Full Story»

UK Households' Financial Wellbeing Weakens In May (07 hr(s), 59 min(s), 11 sec(s) ago)
(RTTNews) - British households' financial wellbeing deteriorated at the fastest pace since Sep ...Full Story»

Czech Producer Price Inflation At 7 & 1/2-Year High (09 hr(s), 22 min(s), 11 sec(s) ago)
(RTTNews) - The Czech Republic's producer price inflation rose to the highest level in seven- ...Full Story»

Estonia Producer Price Inflation Rises In April (10 hr(s), 0 min(s),11 sec(s) ago)
(RTTNews) - Estonia's producer price inflation rose in April, data from Statistics Estonia sho ...Full Story»

Japan Industrial Production Falls Less-Than-Forecast (10 hr(s), 11 min(s), 11 sec(s) ago)
(RTTNews) - Japan's industrial production declined less-than-estimated in March, final data fr ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Belgium Consumer Confidence At 5-month High

05/20/2019 - 09:38 AM (RTTNews)
(RTTNews) - Belgium's consumer confidence rose in May to its highest level in five months, sur ...Full Story>>

Germany's Economy Likely To Lose Momentum: Bundesbank

05/20/2019 - 07:57 AM (RTTNews)
(RTTNews) - Germany's economy is likely to lose momentum in the second quarter, according to t ...Full Story>>

Portugal Producer Price Inflation At 4-Month High

05/20/2019 - 07:40 AM (RTTNews)
(RTTNews) - Portugal's producer price inflation rose for the second straight month to the high ...Full Story>>

Hong Kong Jobless Rate Steady

05/20/2019 - 05:19 AM (RTTNews)
(RTTNews) - Hong Kong's unemployment rate remained stable during the February to April period, ...Full Story>>

UK Households' Financial Wellbeing Weakens In May

05/20/2019 - 05:15 AM (RTTNews)
(RTTNews) - British households' financial wellbeing deteriorated at the fastest pace since Sep ...Full Story>>
Copyright © 2019. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.