US housing starts and permits fall by less than expected in October
Ferguson Enterprises Inc. (DI)
16,180.00p
16:34 07/11/24
-0.55%
-90.00p
Homebuilders in the US broke ground on slightly more new houses last month than forecast by economists.
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17:04 07/11/24
1.19%
132.66
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).