Analysts at Nomura note that US housing starts fell 12.3% m-o-m to 1173k saar in June, below expectations (Nomura: 1290k, Consensus: 1320k), from downwardly revised 1337k saar in May. Key Quotes “While we expected slowdown in housing starts in June given declines in recent permit data, the decline was sharper than we had anticipated.” “Housing permits were down 2.2% m-o-m to 1273k, below expectations (Nomura: 1318k, Consensus: 1330k), marking the third consecutive m-o-m fall. Continued declines in multifamily housing permits appear consistent with ongoing softening in the multifamily housing sector and raise downside risk to residential investment. While month-to-month changes in starts and permits can be volatile, we expect continued gradual improvement in housing starts.” “GDP tracking update: Housing starts in June were weaker than we expected and backward revisions were modestly negative. However, after rounding, our Q2 real GDP tracking estimate remains at 4.6% 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 Oil prices pump higher, WTI knocks on $69.00 despite rising US stockpiles FX Street 5 years Analysts at Nomura note that US housing starts fell 12.3% m-o-m to 1173k saar in June, below expectations (Nomura: 1290k, Consensus: 1320k), from downwardly revised 1337k saar in May. Key Quotes "While we expected slowdown in housing starts in June given declines in recent permit data, the decline was sharper than we had anticipated." "Housing permits were down 2.2% m-o-m to 1273k, below expectations (Nomura: 1318k, Consensus: 1330k), marking the third consecutive m-o-m fall. Continued declines in multifamily housing permits appear consistent with ongoing softening in the multifamily housing sector and raise downside risk to residential investment. While month-to-month changes… 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.
