New home starts in the United States rose 11.8% monthly in November after falling to a rate of -3.1% in October, as shown this Thursday data published jointly by the United States Census Bureau and the United States Department of Housing and Urban Development.
Additional details from the post revealed that building permits, which increased by 4.2% in October, increased 3.6% in November.
About US housing data
Home starts published by the US Census Bureau, the Department of Commerce, capture the number of new homes or buildings that were built. It shows the strength of the housing market, considered an indicator of the economy in general, due to the sensitivity of this market with respect to business cycles. A result higher than the market consensus is bullish for the dollar, while a bottom result is bearish.
Building permits issued by the US Census Bureau, Department of Commerce, show the number of permits issued for new construction projects. This post Involves the corporate investment movement (US economic development). It tends to cause some volatility in the dollar. Typically, the more the number of permits increases, the more the USD benefits.
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