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US housing starts fall unexpectedly in July

by ChemOrbis Editorial Team - content@chemorbis.com
  • 17/08/2017 (18:31)
According to data from the US Commerce Department, total housing starts in the US recorded a decrease of 4.8% month-on-month in June to 1,155,000 when compared to a revised 1,210,000 in June 2017 due to a drop in construction of apartment buildings. Analysts’ expectations were calling for a 0.3% increase.

Meanwhile, on a yearly basis, the housing starts were also down by 5.6%.

The data showed that building permits, which are considered as an indicator for future buildings, slid by 4.1% from last month to 1,220,000 in July while they were 4.1% higher compared to July 2016.
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