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U.S. building permits jump 8.1% in July, housing starts up 15.7%

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Investing.com -

Investing.com - The number of building permits issues in the U.S. rose significantly more than expected in July, while housing starts also blew past forecasts, official data showed Tuesday.

In a report, the U.S. Commerce Department said that the number of building permits issued last month jumped by 8.1% to a seasonally adjusted 1.052 million units from June's total of 973,000.

Analysts expected building permits to rise by 2.5% to 1.0 million units in July.

The report also showed that U.S. housing starts soared by 15.7% last month to hit a seasonally adjusted 1.093 million units from June's total of 945,000, beating expectations for an increase of 8.6% to 969,000 units.

Following the release of the data, the U.S. dollar added to gains against the euro, with EUR/USD shedding 0.14% to trade at 1.3344, compared to 1.3355 ahead of the data.

Meanwhile, the outlook for U.S. equity markets was higher. The Dow pointed to a gain of 0.25% at the open, the S&P 500 indicated a rise of 0.25%, while the Nasdaq 100 signaled an increase of 0.15%.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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