Home

 
India Bullion iPhone Application
  Quick Links
Currency Futures Trading

MCX Strategy

Precious Metals Trading

IBCRR

Forex Brokers

Technicals

Precious Metals Trading

Economic Data

Commodity Futures Trading

Fixes

Live Forex Charts

Charts

World Gold Prices

Reports

Forex COMEX India

Contact Us

Chat

Bullion Trading Bullion Converter
 

$ Price :

 
 

Rupee :

 
 

Price in RS :

 
 
Specification
  More Links
Forex NCDEX India

Contracts

Live Gold Prices

Price Quotes

Gold Bullion Trading

Research

Forex MCX India

Partnerships

Gold Commodities

Holidays

Forex Currency Trading

Libor

Indian Currency

Advertisement

 
MW: Housing starts tumble 9% as sturdy recovery remains elusive
 
Builders broke ground on the fewest new homes in a year and a half in September, another setback as the housing market struggles for sustainable momentum.

Housing starts ran at an annual 1.047 million pace, the Labor Department said Wednesday. That was 9% lower than in August and 11.9% lower than a year ago. It was the slowest pace of starts since March 2015. Economists surveyed by MarketWatch had forecast a 1.18 million pace.

The stumble in starts was slightly offset by a surge in building permits, which foreshadows a stronger pace of construction in the future. Permits were at a 1.23 million pace in August, a 6.3% monthly gain and the highest since November.

And single-family housing starts jumped 8.1% to an annual 783,000 pace, the highest in seven months. As builders shift their focus to single-family construction away from apartments, it signals more confidence in the market for owner-occupied homes and generates more economic activity. The U.S. now has the most single-family homes under construction since October 2008.


The Labor Department’s figures are notoriously volatile and often revised heavily. August housing starts and permits, both initially reported as 1.14 million, were each revised up slightly to a 1.15 million rate.

Starts touched the second-highest of the economic cycle in July, so many analysts expected builders to ease back in August. But the pace of construction since the recession is still well below that of earlier periods.
Source