Construction of new U.S. homes continued to grow in April
U.S. home construction accelerated in April, as strenght in the U.S. economy becomes more evident. Issuance of building permits grew as well in April, after the decline in March.
U.S. housing starts grew in double digits in April by 13.3 % on the seasonally adjusted basis to annual rate of 1,072,000 units, an increase of 126,000 units from 946,000 in March, reported by the U.S. Department of Housing and Urban Development. Construction of new U.S. homes increased across many sectors including, multi-family housing units, northeast and midwest.
Housing normally has a wide-ranging influence on the rest of the economy because so many raw materials and finished goods are required to build homes and furnish them after sale.
From April 2013, housing starts jumped by 25.2 %, where construction in the Northeast grew the most, by 78.2 %.
Building permits have rebounded from decline in previous period, permits soared by 9.1 % or 90,000 units to an annual rate of 1,072,000 units, from 946,000 in March on the seasonally adjusted basis Most of growth took place in the South and it was concentrated in multi-dwelling buildings such as apartments.
New permits went up 21.1 % to annual rate of 139,000 units in the South while permits for multi-family units grew 20.1 % accounting for 39.46 % of total permits issued.
Permits give an indication of whether demand for new homes is growing or slowing. Over the past 12 months, monthly building permits grew by 7.5 %
Construction spending
U.S. Department of Commerce reported 0.2 % increase in construction spending in March, led by increase in residential construction.
The Commerce Department announced outlays for U.S. construction projects increased a slim 0.2 % in March on the seasonally adjusted basis annual rate at $942.5 billion. Growth of residential construction in the last month, shows that more Americans are able to afford to buy own home.
The U.S. trade deficit narrowed in March as exports rose and imports stagnated.
The Commerce Department reported that, nation's trade gap deteriorated in March by -3.6 %. The positive development in the international trade will add to the GDP growth, increasing oil imports may signal healthy economic activity, but they also widen the trade deficit, as the trade gap subtracts from the GDP growth, economists noted.
Economists said the data showed that higher gasoline prices are not just an inflation threat but can constrain economic growth.
The nation's trade deficit with China narrowed to $-20.4 billion in March from $-20.9 billion in February. Exports grew $10.8 billion.
Lawmakers and some business executives say China keeps its currency artifically low to boosts its exports.
Imports increased in March by 1.06 %, reported by the Commerce Department, led by 14.01 % growth in miscellaneous other goods and Other Transportation services. Imports of Opto-Electronics grew also, up 41.54 % to $1.99 billions. But imports of Industrial supplies, materials fell the most, down -0.83 %, Royalties and License Fees. Imports of Nuclear Technology also fell -20.30 % to $0.16 billions.
U.S. housing starts grew in double digits in April by 13.3 % on the seasonally adjusted basis to annual rate of 1,072,000 units, an increase of 126,000 units from 946,000 in March, reported by the U.S. Department of Housing and Urban Development. Construction of new U.S. homes increased across many sectors including, multi-family housing units, northeast and midwest.
Housing normally has a wide-ranging influence on the rest of the economy because so many raw materials and finished goods are required to build homes and furnish them after sale.
From April 2013, housing starts jumped by 25.2 %, where construction in the Northeast grew the most, by 78.2 %.
Building permits have rebounded from decline in previous period, permits soared by 9.1 % or 90,000 units to an annual rate of 1,072,000 units, from 946,000 in March on the seasonally adjusted basis Most of growth took place in the South and it was concentrated in multi-dwelling buildings such as apartments.
New permits went up 21.1 % to annual rate of 139,000 units in the South while permits for multi-family units grew 20.1 % accounting for 39.46 % of total permits issued.
Permits give an indication of whether demand for new homes is growing or slowing. Over the past 12 months, monthly building permits grew by 7.5 %
Construction spending
U.S. Department of Commerce reported 0.2 % increase in construction spending in March, led by increase in residential construction.
The Commerce Department announced outlays for U.S. construction projects increased a slim 0.2 % in March on the seasonally adjusted basis annual rate at $942.5 billion. Growth of residential construction in the last month, shows that more Americans are able to afford to buy own home.
U.S. Trade gap narrows on growing exports
The U.S. trade deficit narrowed in March as exports rose and imports stagnated.
The Commerce Department reported that, nation's trade gap deteriorated in March by -3.6 %. The positive development in the international trade will add to the GDP growth, increasing oil imports may signal healthy economic activity, but they also widen the trade deficit, as the trade gap subtracts from the GDP growth, economists noted.
Economists said the data showed that higher gasoline prices are not just an inflation threat but can constrain economic growth.
The nation's trade deficit with China narrowed to $-20.4 billion in March from $-20.9 billion in February. Exports grew $10.8 billion.
Lawmakers and some business executives say China keeps its currency artifically low to boosts its exports.
Imports increased in March by 1.06 %, reported by the Commerce Department, led by 14.01 % growth in miscellaneous other goods and Other Transportation services. Imports of Opto-Electronics grew also, up 41.54 % to $1.99 billions. But imports of Industrial supplies, materials fell the most, down -0.83 %, Royalties and License Fees. Imports of Nuclear Technology also fell -20.30 % to $0.16 billions.
