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U.S. building permits rise 14.3% in April; housing starts fall 16.5%

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Investing.com - The number of building permits issues in the U.S. increased more-than-expected to hit the highest level in five years in April, official data showed Thursday.

The report also showed that housing starts fell significantly, painting a mixed picture of the U.S. housing sector.

In a report, the U.S. Census Bureau that the number of building permits issued in April rose 14.3% to a seasonally adjusted 1.017 million, above expectations for a 3.8% increase to 0.973 million units.

Building permits issued in March totaled 0.890 million units.

The report also showed that U.S. housing starts fell by 16.5% last month to a seasonally adjusted 0.853 million, compared to expectations for a decline of 6.4% to 0.973 million.

Housing starts for March were revised down to 1.021 million units from a previously reported 1.036 million units.

Following the release of the data, the U.S. dollar turned lower against the euro, with EUR/USD jumping 0.21% to trade at 1.2915.

Meanwhile, U.S. stock future indices erased modest gains to turn mixed. The Dow Jones Industrial Average futures fell 0.1%, S&P 500 futures pointed to a loss of 0.2%, while the Nasdaq 100 futures pointed to an increase of 0.1% at the open.

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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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