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US Housing Starts Go Boom!

US Housing Starts Go Boom!

Housing Starts in the United States exploded substantially above estimates in December. The numbers come as markets realized the ‘phase one trade deal’ with China would be signed and President Trump would most likely be re-elected.

Housing Starts (MoM) (Dec) printed at 1.608 vs 1.375 consensus estimate.

Housing Starts Change (Dec) printed at 16.9% vs -3.8% estimate.

Industrial Production (MoM) (Dec) printed at -0.3% vs -0.2% estimate.

Capacity Utilization (Dec) printed at 77% vs 77.1% consensus estimate.

Michigan Consumer Sentiment Index (Jan) printed at 99.1 vs 99.3 estimate.

JOLTS Job Openings (Nov) printed at 6.8M vs 7.233M estimate.

Building Permits (MoM) (Dec) printed at 1.416M vs 1.468M estimate.

Building Permits Change (Dec) printed at -3.9% vs estimate of -1.9%.

Housing starts jumped 16.9% to a seasonally adjusted annual rate of 1.608 million units last month, the highest level since December 2006. The percentage gain was the largest since October 2016. Data for November was revised higher to show homebuilding rising to a pace of 1.375 million units, instead of advancing to a rate of 1.365 million units as previously reported, reported CNBC.

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