US: Housing Starts rise by 12.2% in August, Building Permits fall by 10%

Housing Starts in the US rose sharply in August.
US Dollar Index holds in positive territory above 110.00.

Eren Sengezer FXStreet

The monthly data published by the US Census Bureau revealed on Tuesday that Housing Starts rose by 12.2% in August following July's10.9% contraction.

On a negative note, Building Permits declined by 10% in the same period.

"Single‐family authorizations in August were at a rate of 899,000; this is 3.5% below the revised July figure of 932,000," the publication read. "Authorizations of units in buildings with five units or more were at a rate of 571,000 in August."

Market reaction

The US Dollar Index preserves its bullish momentum and was last seen rising 0.48% on the day at 110.12.

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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