US housing starts up 4.6pc in June, building permits tick higher

(Sharecast News) - Housing starts and building permits both increased during June, according to the Commerce Department, broadly in line with expectations. Housing starts came to a seasonally adjusted annual rate of 1.32m in June, up 4.6% from May and slightly better than estimates of 1.3m.

Building permits came to 1.39m, up 0.2% month-on-month and in line with consensus estimates.

Housing completions, on the other hand, slumped 14.7% month-on-month to 1.31m. On an annualised basis, completions were 21.4% year-on-year.











Reporting by Iain Gilbert at Sharecast.com