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US housing starts at 8-month low in May

by ChemOrbis Editorial Team - content@chemorbis.com
  • 19/06/2017 (12:49)
According to data from the US Commerce Department, US housing starts recorded a further decrease of 5.5% month-on-month in May to 1,092,000 when compared to a revised 1,156,000 in April and hit the lowest level since September 2016 which stood at 1,062,000. This number fell behind the economists’ expectations which were calling for housing starts to stand at 1,215,000.

Meanwhile, on a yearly basis, the housing starts decreased by 2.4%.

The data showed that building permits also fell by 4.9% to 1,168,000 in May from a revised 1,228,000 in the previous month, missing the expectations of a rise to 1,250,000. This was also the lowest level since April 2016 when housing starts stood at 1,163,000.
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