US homebuilder sentiment unexpectedly declined in June to the lowest level this year due to record high input costs and the end of near-zero interest rates. Housing starts and building permits in May fell to their lowest levels since 2020, with single-family housing starts declining significantly.
The Labor Department reports jobless claims fell by 5,000 to 238,000 from a 10-month high of 243,000 last week. https://t.co/Nz58St557g
Housing starts dropped 19.3% in May as builder confidence continues to slide: Builder confidence is at its lowest level since December 2023 and housing starts are down 19% annually, with experts blaming mortgage rates. https://t.co/IsjMtfIQhc
US initial jobless claims declined by 5,000 to 238,000 in the week ending June 15, above the consensus estimate of 235,000. Housing starts decreased 5.5% to a 1.28 million annualized rate last month. Mike McKee reports https://t.co/6zRH1Rqchy https://t.co/H51M4IPg9b
US Housing Starts hit a 47-month low in May, down 19% YoY. High financing costs and high mortgage rates taking a toll on homebuilders & potential buyers. https://t.co/l5IYmkeySJ https://t.co/ofal4v7Sr9
'Housing starts decreased 5.5% to a 1.28 million annualized rate last month. Building permits, which point to future construction, fell 3.8% to a 1.39 million annual rate, also the weakest since June 2020.' https://t.co/emUPUjBGrM https://t.co/zinfQW9nWc
โ ๏ธ EURO ZONE CONSUMER CONFIDENCE AT -14.0 IN JUNE (RTRS POLL -13.6) - EU COMMISSION
EUROZONE CONSUMER CONFIDENCE FLASH ACTUAL -14.0 (FORECAST -13.8, PREVIOUS -14.3) $MACRO
Eurozone June consumer confidence (flash) -14.0 vs. -13.6 expected https://t.co/FN0lO7LOUC
Homebuilder Confidence in the U.S. Drops to 2024 Low in June https://t.co/QOm7K4jYgB
The slow grind higher continued for claims last week, which I expect to continue next week as well. Initial jobless claims of 238k (sa) during the week ending June 15 was just above expectations (235k cons, 235k Arch). Continuing claims of 1,828k (sa) surprised moreโฆ https://t.co/ibQpIgjHGM
US jobless claims fall to 238,000 from 10-month high, remain low by historical standards https://t.co/dC41EHt9tz
Housing starts fall to the lowest level since June 2020 Home builders pulling back on all types of homes across most of the nation https://t.co/JGc0BHV5ZM
Morning Macro Initial jobless claims 238k vs. est 235k and 243k prior Continuing claims 1.828mn vs. est 1.810mn and 1.813mn prior Housing starts 1,277k vs est 1,370k (big miss) Building permits 1,386k vs est 1,450k (big miss) Philadelphia business outlook 1.3 vs est 5.0
๐จ#Housing starts fell 5.5% to 1.28mn in May: new post-pandemic low ๐ All regions ex West fell ๐ป-19.3% y/y ๐ Single-family softening: risk to monitor โ ๏ธ ๐ป -5.2% m/m to 982k: low since Oct '23 ๐ป-1.7% y/y ๐๏ธMulti-fam near decade low ๐ป-6.7% m/m to 295k ๐ป-49% y/y https://t.co/E7sOfiNFRb
Jobless claims down from a week ago to 238K. But that's still slightly higher than forecasts.
Initial jobless claims at 238k vs. 235k est. & 243k prior (rev up from 242k); continuing claims at 1.828M vs. 1.81M est. & 1.813M prior โฆ greatest increases in CT (+2.2k), WI (+1.3k), & TX (+936); greatest decreases in CA (-3.8k), MN (-1.5k), & IL (-1.4k) https://t.co/kcnOoOaOpE
U.S. Housing Starts Slumped in May https://t.co/Frj1PDtN1T
HOUSING Single-family housing starts fall to the lowest level since last September. Despite the fact that residential construction payrolls remain at cycle highs, our models show early signs of loosening in the construction labor market. https://t.co/iK2LPhmJp7
Weak housing market data this morning. Housing starts and building permits fell to their lowest levels since 2020. https://t.co/qdrBJEwV8Q
U.S. May building permits fall -3.8% to 1.386M; est. 1.450M; prev. 1.440M. Lowest since January 2024.
โ ๏ธBREAKING: *U.S. MAY BUILDING PERMITS FALL -3.8% TO 1.386M; EST. 1.450M; PREV. 1.440M *LOWEST SINCE JANUARY 2024 ๐บ๐ธ๐บ๐ธ https://t.co/5WvhtUXqoJ
Initial jobless claims came in lower than the previous week, but the 238k is still the second highest weekly reading since last August. https://t.co/Hz5KJjM9cy
Seasonally adj initial jobless claims came in at 238k, a touch above the est of 235k, but it's hard to get worried about this as of now--the unadjusted data is firmly in-line with last year's pattern. Looks like we might be dealing with residual seasonality through August. https://t.co/3QSSzGWvrR
โ ๏ธBREAKING: *U.S. MAY HOUSING STARTS TUMBLE -5.5% TO 1.277M; EST. 1.370M; PREV. 1.352M *LOWEST SINCE JUNE 2020 ๐บ๐ธ๐บ๐ธ https://t.co/zp5OLJp67P
Housing Starts dropped to lowest level since June 2020 Which way does it trend from here? https://t.co/HpEIYcF3nE
Weekly Initial Unemployment Claims Decrease to 238,000 https://t.co/EjPcpWKcUq https://t.co/mC0VeVPHQQ
Initial jobless claims at 238k vs. 235k est. & 243k prior (rev up from 242k); continuing claims at 1.277M vs. 1.37M est. & 1.352M prior โฆ greatest increases in CT (+2.2k), WI (+1.3k), & TX (+936); greatest decreases in CA (-3.8k), MN (-1.5k), & IL (-1.4k) https://t.co/1sSb5uT2ra
Single-family housing starts sank 5.2% in May, the fifth decline in the last six months. Expect continued weakness over the summer. Single-family permits have been declining for the last four months while builder sentiment hit its lowest level for the year in June. https://t.co/xn8r54DREt
US Housing Starts May: 1277K (est 1370K; prevR 1352K) - Building Permits May: 1386K (est 1450K; prev 1440K) - Housing Starts (M/M) May: -5.5% (est 0.7%; prevR 4.1%) - Building Permits (M/M) May: -3.8% (est 0.7%; prev -3.0%)
USA Initial Jobless Claims 238K Vs 235K Est.; 243K Prior Philadelphia Fed Manufacturing Index (Jun) 1.3 vs 4.8 Est. Building Permits (MoM) (May) -3.8% vs +0.7% Est. USA Housing Starts MoM For May -5.5% Vs 0.7% Est; 4.1% Prior
*(US) INITIAL JOBLESS CLAIMS: 238K V 235KE; CONTINUING CLAIMS: 1.83M V 1.80ME (highest since early March) *(US) MAY HOUSING STARTS: 1.277M V 1.370ME; BUILDING PERMITS: 1.386M V 1.450ME (More at https://t.co/RMWasmKAon)
*US JOBLESS CLAIMS 238,000 IN JUNE 15 WEEK; EST. 235K
Unemployment Insurance Weekly Claims Initial claims were 238,000 for the week ending 6/15 (-5,000). Insured unemployment was 1,828,000 for the week ending 6/8 (+15,000). https://t.co/ys7Eg5LKAW https://t.co/yT1spljmAR
๐ด US HOUSING STARTS NUMBER ACTUAL 1.277M (FORECAST 1.37M, PREVIOUS 1.360M) $MACRO
US BUILDING PERMITS CHANGE MOM ACTUAL -3.8% (FORECAST 0.7%, PREVIOUS -3.0%) $MACRO
Initial Claims 238K, Exp. 235K, Last 242K Continuing Claims 1,828K, Exp. 1,810K, Last 1,820K
US HOUSING STARTS CHANGE MOM ACTUAL -5.5% (FORECAST 0.7%, PREVIOUS 5.7%) $MACRO
๐บ๐ธ Building Permits Prel (May) Actual: 1.386M Expected: 1.45M Previous: 1.44M https://t.co/jSTbXk4dwT
๐บ๐ธ Housing Starts MoM (May) Actual: -5.5% Expected: 0.7% Previous: 4.1% https://t.co/jSTbXk4dwT
US BUILDING PERMITS NUMBER ACTUAL 1.386M (FORECAST 1.45M, PREVIOUS 1.440M) $MACRO
๐บ๐ธ United States Housing Starts (MoM) (May) $USD Actual: -5.5% ๐ด Expected: 0.7% Previous: 4.1%
๐บ๐ธ United States Building Permits (May) $USD Actual: 1.386M ๐ด Expected: 1.450M Previous: 1.440M
US Jobless Claims Initial (w/e 15 Jun): 238k vs. 235k exp. (prior 242k) Contd (w/e 8 Jun) : 1.828mln vs. 1.810mln exp. (prior 1.820mln) Note - initial claims print pertains to the June NFP survey wk
Heads Up:๐จ๐ฆ New Housing Price Index YoY (May) due at 12:30 GMT (15min) Previous: -0.1% https://t.co/jSTbXk4dwT
Heads Up:๐บ๐ธ Philadelphia Fed Manufacturing Index (Jun) due at 12:30 GMT (15min) Expected: 5 Previous: 4.5 https://t.co/jSTbXk4dwT
Heads Up:๐บ๐ธ Building Permits Prel (May) due at 12:30 GMT (15min) Expected: 1.45M Previous: 1.440M https://t.co/jSTbXk4dwT
Heads Up:๐บ๐ธ Building Permits MoM Prel (May) due at 12:30 GMT (15min) Previous: -3% https://t.co/jSTbXk4dwT
Heads Up:๐บ๐ธ Housing Starts MoM (May) due at 12:30 GMT (15min) Previous: 5.7% https://t.co/jSTbXk4dwT
US Homebuilder Confidence Slides to Lowest Level This Year US homebuilder sentiment unexpectedly declined in June to the lowest level this year as mortgage rates near 7% limited prospective-buyer interest and weighed on the demand outlook. โPersistently high mortgage rates areโฆ
GERMAN PPI YOY ACTUAL -2.2% (FORECAST -2%, PREVIOUS -3.3%) $MACRO
GERMAN PPI MOM ACTUAL 0% (FORECAST 0.1%, PREVIOUS 0.2%) $MACRO
DUTCH CONSUMER CONFIDENCE DROPS TO -23 IN JUNE
DUTCH CONSUMER CONFIDENCE ADJUSTED ACTUAL -23 (FORECAST -, PREVIOUS -22) $MACRO
๐ณ๐ฑ Consumer Confidence (Jun) Actual: -23.0 Previous: -22.0 https://t.co/jSTbXk4dwT
Homebuilder sentiment tumbles again in Jun to 43, half of where it was at the start of '21; record high input costs and the end of near-zero interest rates have proven too much for builders to maintain previous levels of supply: https://t.co/uJhLdRoUfh
๐บ๐ธ #Housing | US Homebuilder Confidence Slides to Lowest Level This Year - Bloomberg https://t.co/1MX8tltyWQ
US homebuilder sentiment unexpectedly declined in June to the lowest level this year https://t.co/HUSRPhLKgZ
Home-builder sentiment has slumped to its lowest level of the year https://t.co/hqnX71B5Xi
Heads Up:๐บ๐ธ NAHB Housing Market Index (Jun) due at 14:00 GMT (15min) Expected: 45 Previous: 45 https://t.co/n4X7s9yG8H
EUROZONE CONSTRUCTION OUTPUT MOM ACTUAL -0.2% (FORECAST -, PREVIOUS 0.10%) $MACRO
EUROZONE CURRENT ACCOUNT NSA ACTUAL 34.44B (FORECAST -, PREVIOUS 44.53B) $MACRO