US housing starts to rebound in August – Nomura

Sandeep Kanihama FXStreet Contributor

Analysts at Nomura expect the US housing starts to rebound in August to an annualized pace of 1210k, up 3.6% from July.

Key Quotes

“Both single- and multifamily housing starts were weaker than expected in July with pronounced softness in the West Census region, possibly related to disruptions from wildfires.”

“We expect a rebound in August, likely driven by volatile multifamily housing starts, based on incoming housing permits data. However, we remain conservative on residential investment as a whole.”

“For building permits, we expect a modest 0.2% m-o-m increase to an annualized pace of 1305k.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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