US: Housing starts increase by 5% in May to 1,350,000

Eren Sengezer FXStreet

"Privately-owned housing starts in May were at a seasonally adjusted annual rate of 1,350,000," the monthly report published jointly by the U.S. Census Bureau and the U.S. Department of Housing and Urban Development read.

Key takeaways

This is 5.0 percent above the revised April estimate of 1,286,000 and is 20.3 percent above the May 2017 rate of 1,122,000.
Single-family housing starts in May were at a rate of 936,000; this is 3.9 percent above the revised April figure of 901,000.
Privately-owned housing units authorized by building permits in May were at a seasonally adjusted annual rate of 1,301,000.
- This is 4.6 percent (±1.4 percent) below the revised April rate of 1,364,000, but is 8.0 percent above the May 2017 rate of 1,205,000.
Privately-owned housing completions in May were at a seasonally adjusted annual rate of 1,291,000.
- This is 1.9 percent above the revised April estimate of 1,267,000 and is 10.4 percent above the May 2017 rate of 1,169,000.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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