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US Housing Starts: Trend is undeniably strong - Wells Fargo

1 month ago   |   By FXCM

Data released on Friday in the US showed that Housing Starts rose jumped 16.9% in December to the highest level in 13 years. Economist at Wells Fargo, explained that the headline was boosted by unusually warm weather and year-end factors, but the trend is undeniably strong.
Key Quotes:
“Housing starts surged 16.9% to a 1.61 million-unit pace, the highest level since December 2006. Big jumps like this are not unusual for December. The seasonal adjustment factors for the month are huge and unseasonably mild weather, as we had this past December, can often lead to exaggerated jumps in the...
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US housing starts reach highest level in 13 years after 'spectacular' December surge

US housing starts reach highest level in 13 years after 'spectacular' December surge

1 month ago   |   By Business Insider

US housing starts soared nearly 17% in December to a 13-year high, according to a Friday release from the Census Bureau.
The seasonally adjusted annual rate for home starts reached 1.61 million last month, topping estimates from economists surveyed by Bloomberg and leaping higher from 1.375 million in November.
The data signals a continued recovery for the housing market as low mortgage rates and resilient consumer confidence lift construction company's projections.
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US housing starts spiked 16.9% in December to their highest level in...
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Wall Street edges up to fresh record highs on upbeat data

1 month ago   |   By FXCM

Financial shares lead rally fueled by rising T-bond yields.
All 11 major S&P 500 sectors post gains on Friday.
Housing Starts in US rose to highest level in 13 years in December.
Wall Street's main indexes opened the last day of the week at fresh all-time highs supported by upbeat macroeconomic data releases from the US and strong earnings figures. As of writing, the Dow Jones Industrial Average was up 0.12% on the day while the S&P 500 and the Nasdaq Composite were adding 0.2% and 0.15% respectively.
Among the 11-major S&P 500 sectors, which were all in the positive territory after the...
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