Wednesday, March 21, 2007

Forex News: 21.03.2007 Housing starts increased in February

Groundbreaking on new homes rebounded by 9% in February after a 14% decline in January, but building permits declined by 2.5%.

Housing starts increased 9% to a seasonally adjusted annual rate of 1.525 million in February from a 10-year low of 1.399 million in January, exceeding the expectations for a smaller increase to 1.46 million. Starts are down 28.5% compared with February 2006.

Building permits fell for the 12th time in the past 13 months, down 2.5% in February to a seasonally adjusted annual rate of 1.532 million from 1.571 million in January. Economists expected permits to be roughly unchanged.

Permits are down 28.6% compared with February 2006.


Post a Comment

<< Home