US: Home starts fall less than expected to 1.38 million

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  • Home starts fell 1.4% in December to 1.32 million.
  • Construction permits fell 1.6% in December to 1.33 million.
  • The dollar rises after the report, and supported by data from the Philly Fed and requests for unemployment benefits.

The housing starts they fell 1.4% in December to 1,382,000, better than the 1,358,000 (annual rate) of the market consensus. In turn, the building permits they fell 1.6% to 1,330,000, below the 1,370,000 expected.

In 2022, it is estimated that 1,392,300 housing units were completed, which represents an increase of 3.8% compared to the 1,341,000 in 2021.

market reaction

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Jobless claims numbers and the Philly Fed were also released. Following the data, which was mostly better than expected, the dollar gained momentum, rising modestly across the market.

Source: Fx Street

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