US: Housing starts rose 3.2% in November following October's 1.6% decline

Eren Sengezer FXStreet

"Privately‐owned housing starts in November were at a seasonally adjusted annual rate of 1,256,000. This is 3.2 percent above the revised October estimate of 1,217,000, but is 3.6 percent below the November 2017 rate of 1,303,000," the U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced on Tuesday.

Key takeaways from the press release

Privately‐owned housing units authorized by building permits in November were at a seasonally adjusted annual rate of 1,328,000. This is 5.0 percent above the revised October rate of 1,265,000 and is 0.4 percent above the November 2017 rate of 1,323,000.
Privately‐owned housing completions in November were at a seasonally adjusted annual rate of 1,099,000. This is 0.4 percent above the revised October estimate of 1,095,000, but is 3.9 percent below the November 2017 rate of 1,144,000.

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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