Tag: housing permits

Housing Starts and Permits Rose Sharply in June on Strong Multi-Family Gains

The Census Bureau and the U.S. Department of Housing and Urban Development said that new housing starts and permits each rose sharply in June. New housing starts increased from 1,069,000 units at the annual rate in May to 1,174,000 in June. This was the fastest pace of housing starts growth since November 2007, the month preceding the start of the Great Recession. This was stronger than the consensus estimate of roughly 1.1 million starts for the month, and it was an encouraging sign that the market has gained some momentum after the springtime lull in activity seen earlier in the year. (continue reading…)

VN:F [1.9.22_1171]
Rating: 0.0/5 (0 votes cast)


Monday Economic Report – June 22, 2015

Here is the summary for this week’s Monday Economic Report: 

Last week, one media outlet reported that manufacturing has been in a “technical recession” for the past six months. I am more hesitant to use the R-word to describe the sector’s performance year-to-date, and in my view, this description somewhat overstates the significance of broader market trends, particularly for expectations moving forward. At the same time, manufacturing production has declined since late last year, as illustrated in the graphic below. A number of significant economic headwinds have reduced output in four of the past six months, reducing the year-over-year pace of growth in the sector from 4.5 percent in November to 1.8 percent in May. Capacity utilization has also declined for five consecutive months, down from 78.1 percent in December to 77.0 percent in May. (continue reading…)

VN:F [1.9.22_1171]
Rating: 0.0/5 (0 votes cast)


Housing Starts Pull Back Somewhat, but Permits Rise to Fastest Pace since August 2007

The Census Bureau and the U.S. Department of Housing and Urban Development said that new housing starts were somewhat lower in May than expected. New housing starts declined from an upward-revised 1,165,000 units at the annual rate in April to 1,036,000 in May, which was below the consensus estimate of around 1.1 million. Both single-family (down from 719,000 to 680,000) and multi-family (down from 446,000 to 356,000) activity were both worse for the month.

On the positive side, starts continue to show improvement from the 900,000 pace seen just three months ago – a sign that the market has largely recovered from its weather-related softness earlier in the year. Indeed, part of the decline in May could simply be a function of the robustness in April’s reading (the highest since October 2007), with the data getting somewhat ahead of the underlying trend line. A pullback of some sort was probably inevitable. My current forecast is for 1.16 million housing starts by the end of this year. (continue reading…)

VN:F [1.9.22_1171]
Rating: 0.0/5 (0 votes cast)


Monday Economic Report – May 26, 2015

Here is the summary for this week’s Monday Economic Report:

The minutes of the April 28–29 Federal Open Market Committee (FOMC) meeting highlighted the nuance that many of us see in the economy right now. The Federal Reserve highlighted a number of challenges facing consumers and businesses in the early months of 2015, noting how these headwinds have dampened overall activity year-to-date. On the other hand, the FOMC felt that slowing economic growth was largely due to “transitory factors,” with its outlook mostly unchanged for the rest of this year. The Federal Reserve projects growth of 2.3 to 2.7 percent in 2015, and it expects the unemployment rate to fall to 5.0 to 5.2 percent.   (continue reading…)

VN:F [1.9.22_1171]
Rating: 0.0/5 (0 votes cast)


Housing Starts Rebounded Strongly in April, Growing at Fastest Pace since November 2007

The Census Bureau and the U.S. Department of Housing and Urban Development said that residential construction activity rebounded strongly in April. New housing starts jumped from an annualized 944,000 in March to 1,135,000 in April, its fastest pace since November 2007, the month before the start of the Great Recession. As such, it appears that the housing market has begun to move beyond the weather-related softness seen in some regions of the country in February and March. On a year-over-year basis, housing starts have risen 9.2 percent since April 2014.

Both single-family (up from 628,000 to 733,000) and multi-family (up from 316,000 to 402,000) housing starts were higher in April, which was encouraging. The single-family growth rates was the fastest since January 2008, with multi-family starts reaching a nine-month high. (continue reading…)

VN:F [1.9.22_1171]
Rating: 0.0/5 (0 votes cast)


Housing Starts Remained Weak in March

The Census Bureau and the U.S. Department of Housing and Urban Development said that residential construction activity remained weak for the second straight month. New housing starts increased 2.0 percent, up from an annualized 908,000 in February to 926,000 in March. Each of those figures, however, remain below the 1,072,000 rate observed in January. They reflect reduced activity in every region of the country, most notably in the Midwest, Northeast and West. Poor weather conditions have been a factor in some regions, and along those lines, starts in the Midwest and Northeast rebounded somewhat as they recovered from heavy snowstorms the month before. (continue reading…)

VN:F [1.9.22_1171]
Rating: 0.0/5 (0 votes cast)


Monday Economic Report – March 23, 2015

Here is the summary for this week’s Monday Economic Report: 

The U.S. economy has sputtered a bit in the early months of 2015. While it continues to grow modestly, several economic indicators are weaker than we would prefer. For example, manufacturing production decreased by 0.2 percent in February, declining for the third straight month. Many headwinds have combined to bring about this softness in the manufacturing sector, including global economic weakness, a strong U.S. dollar, the West Coast ports slowdown, a cautious consumer and the weather in some parts of the country. (continue reading…)

VN:F [1.9.22_1171]
Rating: 0.0/5 (0 votes cast)


Housing Starts Plummeted in February, but Permits Reflect Continued Strength

The Census Bureau and the U.S. Department of Housing and Urban Development said that residential construction activity plummeted in February, falling 17.0 percent. New housing starts declined from an annualized 1,081,000 in January to 897,000 in February. This was the slowest pace of housing starts since January 2014. Perhaps coincidently, that month was marred by a number of winter storms which were significant enough to lessen GDP and overall economic activity. This most recent report likely suffered from the same thing, particularly with major snowstorms in the Northeast and the Midwest, with starts in those two regions down 56.5 percent and 37.0 percent in February, respectively. Starts in the West were also weak, down 18.2 percent for the month. (continue reading…)

VN:F [1.9.22_1171]
Rating: 0.0/5 (0 votes cast)


Housing Starts and Permits Pulled Back a Little in January

The Census Bureau and the U.S. Department of Housing and Urban Development said that residential construction activity pulled back a little in January. New housing starts declined from an annualized 1,087,000 in December to 1,065,000 in January. The good news was that starts have exceeded one million for five straight months, averaging 1,057,400 over that time period. Yet, the numbers for January were also somewhat softer than expected. (continue reading…)

VN:F [1.9.22_1171]
Rating: 0.0/5 (0 votes cast)


Housing Starts Rebounded in December, with Progress from Earlier in the Year

The Census Bureau and the U.S. Department of Housing and Urban Development said that new residential construction rebounded in December. New housing starts rose from an annualized 1,043,000 in November to 1,089,000 in December. These data have been up and down for much of the second half of 2014, with December’s value not far from October’s 1,092,000 reading. The underlying story, however, is one of progress. Housing starts averaged 1,052,167 in the second half of 2014, which was a nice improvement from the 955,167 average observed in the first half. In continue to predict that housing starts will exceed 1.1 million in the coming months, and this latest data are relatively close to that mark. (continue reading…)

VN:F [1.9.22_1171]
Rating: 0.0/5 (0 votes cast)


A Manufacturing Blog

  • Categories

  • Connect With Manufacturers

            
  • Blogroll