U.S. housing starts rise to 1.21 million annual rate

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Tuesday, Oct 20 2015

Construction started on new U.S. homes rose 6.5% to an annual rate of 1.21 million in September, according to government data released Tuesday. After two months of declines, the gain in September brings starts back close to June's level, which was an eight-year high. Starts for single-family homes rose 0.3% in September to an annual rate of 740,000, while starts in buildings with at least five units jumped 17% to a pace of 454,000. Economists had expected an overall September starts rate of 1.14 million.

The annual pace of permits for new construction, a sign of future demand, fell 5.0% in September to 1.10 million. The pace of permits for single-family homes fell 0.3% to an annual rate of 697000, while the pace of permits for apartments fell 14.6% to 369,000. Economists caution over reading too much into a single monthly home-construction report because the data are subject to substantial revisions.

Euro is currently being traded around 1.1360 level, Aussie is around 0.7280 area, while Sterling is at 1.5480 level.

More in this category: « German PPI down by 0.4% Aussie traded in a tighter range »

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