Forex News: 19.12.2006 U.S. housing starts increase 6.7% in November
Construction on new homes raised 6.7% in November after a whopping 14% drop in October.Building permits, meanwhile, fell 3% to a nine-year low, signaling that the housing market remains very weak. Starts rose in November to an annual rate of 1.588 million. Starts are down 25.5% in the past year.
Building permits, considered a leading indicator, fell to a seasonally adjusted annual rate of 1.506 million. Building permits are down 31.3% in the past year.
The quantity of starts in November was above the expected 1.54 million, while permits fell of the 1.55 million expected by economists.
posted by Kalin Tasev @ 1:08 PM
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