Financial News: U.S. Housing Starts Unexpectedly Jump 1.9% In October

U.S. Housing Starts Unexpectedly Jump 1.9% In October

11/17/2023 - 08:39:00 (RTTNews)

(RTTNews) - New residential construction in the U.S. unexpectedly increased in the month of October, according to a report released by the Commerce Department on Friday.

The report said housing starts jumped by 1.9 percent to an annual rate of 1.372 million in October after surging by 3.1 percent to a downwardly revised rate of 1.346 million in September.

Economists had expected housing starts to dip to a rate of 1.350 million from the 1.358 million originally reported for the previous month.

The Commerce Department said building permits also shot up by 1.1 percent to an annual rate of 1.487 million in October after plunging by 4.5 percent to a revised rate of 1.471 million in September.

Building permits, an indicator of future housing demand, were expected to decrease to a rate of 1.450 million from the 1.475 million originally reported for the previous month.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

European Economic News Preview: Eurozone Final Factory PMI Due (14 min(s), 52 sec(s) ago)
(RTTNews) - Factory Purchasing Managers' survey results from the euro area and the UK are due ...Full Story»

South Korea Manufacturing Sector Steady In November - S&P Global (21 min(s), 08 sec(s) ago)
(RTTNews) - The manufacturing sector in South Korea was stagnant in November, the latest survey fr ...Full Story»

Indonesia Manufacturing Sector Picks Up Steam In November - S&P Global (11 min(s), 08 sec(s) ago)
(RTTNews) - The manufacturing sector in Indonesia continued to expand in November, and at a faster ...Full Story»

Philippines Manufacturing Sector Accelerates In November - S&P Global (06 min(s), 08 sec(s) ago)
(RTTNews) - The manufacturing sector in the Philippines continued to expand in November, and at a ...Full Story»

Taiwan Manufacturing Contraction Slows In November - S&P Global (56 min(s), 08 sec(s) ago)
(RTTNews) - The manufacturing sector in Taiwan continued to contract in November, albeit at a slow ...Full Story»

Malaysia Manufacturing PMI Ticks Higher In November - S&P Global (51 min(s), 08 sec(s) ago)
(RTTNews) - The manufacturing sector in Malaysia continued to contract in November, albeit at a sl ...Full Story»

Thai Manufacturing PMI Improves To 47.6 In November - S&P Global (41 min(s), 08 sec(s) ago)
(RTTNews) - The manufacturing sector in Thailand continued to contract in November, albeit at a sl ...Full Story»

Vietnam Manufacturing PMI Sinks To 47.3 In November - S&P Global (36 min(s), 08 sec(s) ago)
(RTTNews) - The manufacturing sector in Vietnam continued to contract in November, and at a faster ...Full Story»