U.S. Housing Starts Plunge Much More Than Expected In July

RTTNews | 875 days ago
U.S. Housing Starts Plunge Much More Than Expected In July

(RTTNews) - New residential construction in the U.S. tumbled by much more than expected in the month of July, according to a report released by the Commerce Department on Tuesday.

The report showed housing starts plunged by 9.6 percent to an annual rate of 1.446 million in July after slumping by 2.4 percent to a rate of 1.559 million in June. Economists had expected housing starts to decline by 1.2 percent to a rate of 1.540 million.

With the much steeper than expected drop, housing starts dove to their lowest annual rate since hitting 1.430 million in February of 2021.

Building permits, an indicator of future housing demand, also fell by 1.3 percent to an annual rate of 1.674 million after inching up by 0.1 percent to a revised rate of 1.696 million in June.

Economists had expected building permits to tumble by 2.1 percent to an annual rate of 1.650 million from the 1.685 million originally reported for the previous month.

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U.S. Job Openings Unexpectedly Increase In November

U.S. Job Openings Unexpectedly Increase In November

Job openings in the U.S. unexpectedly increased in the month of November, according to a report released by the Labor Department on Tuesday. The Labor Department said job openings rose to 8.098 million in November from an upwardly revised 7.839 million in October.
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U.S. Services Index Rises More Than Expected In December

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U.S. Manufacturing Index Indicates Modestly Slower Contraction In December

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U.S. Construction Spending Unexpectedly Flat In November

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First-time claims for U.S. unemployment benefits unexpectedly edged lower in the week ended December 28th, according to a report released by the Labor Department on Thursday. The report said initial jobless claims slipped to 211,000, a decrease of 9,000 from the previous week's revised level of 220,000.
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