The trend is still the business cycle’s friend when it comes to residential construction activity. Housing starts rebounded modestly in February, rising 0.8% to 917,000 on a seasonally adjusted annual basis, the Census Bureau reports. The slight gain follows January’s hefty 7.3% decline. In contrast to the volatility of the monthly data, the year-over-year comparison for starts remains strong, as today’s update shows. A similar story applies to newly issued housing permits, which suggests that residential construction activity will continue to advance in the spring.
Daily Archives: March 19, 2013
Q1:2013 US GDP Nowcast Update | 3.19.2013
US GDP is projected to increase by 3.1% in 2013’s first quarter, according to the latest update of The Capital Spectator’s average econometric nowcast. That’s up sharply from the previous 2.0% nowcast for Q1, published on February 26. (GDP percentage changes are quoted as real seasonally adjusted annual rates.)