Drop in housing starts shows industry may weigh on growth

The U.S. economy is expanding at a 2.0% annualized rate in the second quarter based on data that showed a 0.9% drop in domestic housing starts in May, the Atlanta Federal Reserve’s gdpnow forecast model showed on Tuesday.

Economists forecast 2.2% june Housing Starts Drop. Starts Plunge 12.3%. A little more than half of the nation’s June drop was in the Midwest, where starts tumbled 35.8% after a 51.9% jump the prior month. The June data is considered a return to the region’s soft trend. Year-to-date, housing starts in the Midwest are running 2.9% below their pace in the first half of 2017, and single-family starts are 5.7% lower.

Drop in U.S. Housing Starts Shows Industry May Weigh on Growth – Three straight months of declines in new-home construction show U.S. homebuilding may weigh on second-quarter growth, Commerce Department data showed Friday. Highlights from Housing Starts (May) .

For example, if the stock market is at its peak, you may want to sell. longer-term trends in housing starts. Interest rates are a lagging indicator of economic growth. They are based around.

Three straight months of declines in new-home construction show U.S. homebuilding may weigh on second-quarter growth, Commerce Department data showed Friday. May starts were pushed lower by declining construction in South, which reached the weakest level since October 2015, and in the Midwest.

The figures may alleviate some investor concern that the economy is losing momentum — highlighted by an inversion in part of the Treasury yield curve — and potentially help Trump as he starts his.

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Housing Starts Drop for Third Straight Month. housing starts dropped for the third straight month in May, plummeting to their lowest level in eight months, according to a new report from the Census Bureau. The number of new housing projects started in May was down 5.5 percent over the month and 2.4 percent on the year.

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Housing starts dropped 0.9% to a seasonally adjusted annual rate of 1.269 million units last month amid a drop in the construction of single-family housing units, the government said.

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