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Residential Construction Down but Close to Consensus
Wednesday, January 20, 2016
Both housing starts and residential construction permits
declined in December compared to November.
A joint release from the U.S. Census Bureau and the Department of Housing
and Urban Development shows that housing starts were at a seasonally adjusted
annual rate of 1,149,000, a 2.5 percent month-over month decline. The latest figure is 6.4 percent higher than
that of a year earlier, 1,080,000. The
release revised the original estimate for November 2015 to 1,179,000 units from
the originally reported 1,173,000.
The consensus estimate among analysts for December housing
starts was 1.2 million.
The range of predictions was 1.115 to 1.255 million.
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