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Tags: Financial Markets | Infrastructure | Money | housing starts | Commerce Department | COVID-19 economic recovery

Housing Starts Beat Expectations in August

housing
Housing starts were up 3.9% in August, beating expectations. (Dreamstime)

Tuesday, 21 September 2021 08:41 AM

U.S. homebuilding increased more than expected in August, likely boosted by an easing in lumber prices, though land and labor shortages remain challenges.

Housing starts advanced 3.9% to a seasonally adjusted annual rate of 1.615 million units last month, the Commerce Department said on Tuesday. Data for July was revised up to a rate of 1.554 million units from the previously reported 1.534 million units.

Economists polled by Reuters had forecast starts rebounding to a rate of 1.555 million units.

© 2021 Thomson/Reuters. All rights reserved.


StreetTalk
U.S. homebuilding increased more than expected in August, likely boosted by an easing in lumber prices, though land and labor shortages remain challenges.
housing starts, Commerce Department, COVID-19 economic recovery
80
2021-41-21
Tuesday, 21 September 2021 08:41 AM
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