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Beth Ann Bovino
U.S. Deputy Chief Economist
Standard & Poor’s Ratings Services
Biography
Author Archives: Beth Ann Bovino
Posted in Economic Data, Financial Markets Tagged Beth Ann Bovino, CMTV, Economic Update Leave a comment
U.S. housing starts surged by 15.0% to 872,000 units in September. It was much stronger than the 770,000 expected by consensus and comes after the prior month was upwardly revised to a 758,000 unit rate (was 750,000 units). Both components were stronger. Single-family starts jumped by 11.0% over August, while multi-family starts surged by 25.1% [...]
U.S. construction spending fell by 0.6% month-over-month in August, much weaker than the 0.5% gain expected by consensus and the second straight monthly decline after three consecutive months of gains. It is still up 6.5% over last August, and comes after a revised 0.4% decline in July (was down 0.9%). Total private construction was down [...]
U.S. housing starts rebounded by 2.3% to 750,000 annualized units in August. It was under the 760,0000 starts expected by markets though near our forecast of 755,000 starts. However, it comes after July’s 746,000 units started was downwardly revised to 733,000 units. Single family starts rose by 5.5% over July, erasing the 4.5% drop seen [...]
Posted in Economic Data, Housing Data, Housing Starts and Permits Tagged housing starts Leave a comment
Posted in Economic Data, Homebuilders, Housing Data Leave a comment
U.S. existing home sales rose 2.3% m/m to an annualized 4.47 million unit rate in July, which was weaker than the 4.5 million units expected by consensus, but closer to our forecast for 4.45 million units. Existing home sales were up 10.4% over July 2011. Single family sales rose 2.1% m/m to a 3.98 million unit [...]
Total U.S. construction spending rose by 0.4% m/m in June, which was stronger than the 0.3% expected by consensus, but in line with our 0.4% forecast. It comes after May was revised up sharply to a 1.6% pace (was up 0.9% before). Total construction spending is up 7.0% from last June. June private construction was [...]
U.S. new home sales dropped by 8.4% to a 350,000 annualized unit rate in June. This was much weaker than the 369,000 unit rate expected by consensus and our 360,000 unit forecast. However, it comes after the prior three months were upwardly revised to add another 33,000 units to total sales. May sales, in particular, [...]
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