US: Housing starts decline 0.3% in March vs +6.5% expected
According to the data published by the U.S. Census Bureau and the U.S. Department of Housing and Urban Development, housing starts in March declined by 0.3% and came below the market expectation for a growth of 6.5%. Nevertheless, the US Dollar Index didn't show a reaction with the trading volume remaining thin amid the Easter holiday.
Key takeaways from the press release
Privately‐owned housing units authorized by building permits in March were at a seasonally adjusted annual rate of 1,269,000.
This is 1.7 percent below the revised February rate of 1,291,000 and is 7.8 percent below the March 2018 rate of 1,377,000.
Privately‐owned housing starts in March were at a seasonally adjusted annual rate of 1,139,000.
This is 0.3 percent below the revised February estimate of 1,142,000 and is 14.2 percent below the March 2018 rate of 1,327,000.