Housing Starts Weakened as Expected in April

By Jann Swanson

Posted To: MND NewsWire

The leading construction indicators performed generally as analysts had predicted in April, stepping back from March’s solid increases in both permits and housing starts. Both sectors had been driven that month by surges in multi-family construction. The U.S. Census Bureau and the Department of Housing and Urban Development say that permits for private residential construction dipped by 1.8 percent in April to a seasonally adjusted annual rate of 1,352,000. The March figure, originally estimated at 1,354,000 units, was revised up to 1,377,000. The April estimate was 7.7 percent higher than that of April 2017. The month’s results landed mid-range among forecasts from analysts polled by Econoday. They had been looking for numbers ranging from 1,325,000 to 1,370,000 units. Their consensus was…(read more)

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Housing Starts Weakened as Expected in April

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