Analysts at Nomura note that the US housing starts rose more than our and market expectations, but with mixed details. Key Quotes “Housing starts were up 5.0% m-o-m in May to 1350k saar, above expectations (Nomura: +3.0% to 1325k, Consensus: +1.9% to 1312k), from a downwardly-revised 1286k in April.” “A 7.5% m-o-m increase in multifamily housing starts contributed to the strongerthan-expected May housing starts.” “Single-family housing starts rose strongly by 3.9% m-o-m in May, but the gains were mostly concentrated in the Midwest (+44.4%).” “Weak permit data also suggest increased downside risk in coming months.” “In the near term, the strong labor market will continue to support consumer demand. However, structural constraints such as a skilled labor shortage and rising building material costs will remain negative for residential construction activity.” “GDP tracking update: Single-family housing starts were stronger than we expected in May, but the gains were concentrated in only one region. Moreover, single-family housing permits remained weak. Thus, it appears residential construction could slow in coming months, offsetting a strong gain in May. After rounding, our Q2 real GDP tracking estimate remains unchanged at 4.1% q-o-q saar.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next USD/CAD taps 1.3300 mark but lacks follow through FX Street 5 years Analysts at Nomura note that the US housing starts rose more than our and market expectations, but with mixed details. Key Quotes "Housing starts were up 5.0% m-o-m in May to 1350k saar, above expectations (Nomura: +3.0% to 1325k, Consensus: +1.9% to 1312k), from a downwardly-revised 1286k in April." "A 7.5% m-o-m increase in multifamily housing starts contributed to the strongerthan-expected May housing starts." "Single-family housing starts rose strongly by 3.9% m-o-m in May, but the gains were mostly concentrated in the Midwest (+44.4%)." "Weak permit data also suggest increased downside risk in coming months." "In the near term, the… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.