Housing starts in the US fell 3.6 percent from a month earlier to an annualized 1.567 million units in January of 2020 but beat market forecasts of 1.425 million. Housing starts for December were revised up to 1.626 million units from 1.608 million, the highest level since December of 2006. In January, single-family housing which is the largest share of the housing market, went down 5.9 percent to 1.010 million units from 1.073 million in December which was the highest since June of 2007. On the other hand, starts for the volatile multi-family segment increased 3 percent to 0.547 million. Starts declined in the South (-5.4 percent to 0.778 million) and the Midwest (-25.9 percent to 0.18 million) but rose in the West (1.2 percent to 0.431 million) and the Northeast (31.9 percent to 0.178 million). Meanwhile, building permits jumped 9.2% to 1.551 million, well above expectations of 1.450 million and the highest level since March 2007.
Archive for February, 2020
US core consumer prices, excluding volatile items such as food and energy, increased 2.3 percent from a year earlier in January 2020, the same as in the previous month and above market forecasts of 2.2 percent. United States Core Inflation Rate – data, historical chart, and calendar of releases – was last updated on February of 2020 from its official source.
Private businesses in the US hired 291 thousand workers in January 2020, the most since May 2015, easily beating market expectations of a 156 thousand increase. The service-providing sector added 237 thousand jobs, mostly in leisure & hospitality, education & health and professional & business industries. Meanwhile, the goods-producing sector added 54 thousand jobs, boosted by employment in construction. United States ADP Employment Change – data, historical chart, and calendar of releases – was last updated on February of 2020 from its official source.