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US Housing starts drop 13 percent in April

US Housing starts dropped unexpectedly in April to its lowest figure on record. New home construction slid by 13% to 458,000 when forecasts expected at least a figure over 500,000. Single family homes increased by 2.8%, but multifamily homes (apartments, townhouses, etc) dropped to almost a third of the March figures.

Geographically the largest decline was in the Northeast of the US with a 31% drop, in comparison the West rose by 43% but not enough to upset the downward slde in the South and Midwest (21%).

The lack of new homes reaching the market and inventories being reduced is being seen as a positive sign of recovery in the second part of the year by analysts.

Fore more US and International employment data check FXEconostats

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November
20
Today’s Global
Market Events
8:30 am

CAD
Core Retail Sales m/m
0.5%
CAD
Retail Sales m/m
0.8%
10:00 am

USD
Existing Home Sales
5.57m
6:00 pm

AUD
CB Leading Index m/m
1.8%