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U.S. ECONOMICS: Housing Starts Beat in July; Building Permits Rebound

U.S. housing starts surged 15.7% to a 1.093 million pace in July, much stronger than expected, rebounding from a 4.0% decline to 945,000 in June (revised from 893,000) and a 7.4% May drop to 984,000 (revised from 985,000). Single family starts increased 8.3% after a cumulative 6.7% decline in the prior two months. Multifamily starts climbed 28.9% after dropping 18.6% in the prior two months. Building permits rebounded 8.1% to 1.052 million after declines in the prior two months o a 973,000 June pace (revised from 963,000).

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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.

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